2024 was a year of both unprecedented success and significant challenges for the crypto industry. While major thefts and exploits were recorded, the industry remains resilient, pushing forward with innovation and enhanced security.
2024 Crypto Security Overview
According to the SlowMist report, 2024 saw a significant increase in crypto thefts with losses exceeding $2 billion from 410 incidents. Ethereum and Binance Smart Chain topped the list. The DeFi sector was the primary target, highlighting the need for the industry to continuously reassess its security strategies.
The Top Crypto Theft of the Year
In 2024, numerous crypto platforms were attacked by hackers. DMM Bitcoin reported a $330 million loss, PlayDapp lost $36.5 million, and WazirX faced a $230 million theft. Other significant losses were seen in incidents involving BtcTurk, Munchables, and Radiant Capital. These underscore the necessity for stronger security measures.
Keynote to Developers for 2025
In 2025, developers should prioritize smart contract security and improve code reviews. Regular security audits and enhanced authentication methods are crucial for preventing attacks. This approach will help address threats promptly in the ever-evolving crypto landscape.
The industry must adapt to ever-changing threats by bolstering security measures and regularly updating strategies to ensure crypto market resilience and growth.
