Crypto Hacks in 2024 Surge Over 21%

A report on crypto hacks in 2024 reveals that the industry is increasingly vulnerable to theft, with the total amount stolen reaching nearly $2.2 billion. This figure marks a significant increase of 21.07% year over year (YOY). These incidents have risen in number, from 282 in the previous year to 303 in 2024. 1

Among the largest incidents were substantial losses from major crypto exchanges. The Japanese exchange DMM Bitcoin reported a staggering loss of $305 million. Close behind, the Indian exchange WazirX suffered losses amounting to $234.9 million. @WuBlockchain reported that other significant thefts included an attack on Radiant Capital, resulting in a loss of $51 million.

Other victims include Munchables, which lost $62.5 million, and Penpie, with $27 million stolen. UwU Lend faced a loss of $20 million, while Sonne Finance and BingX were compromised for $20 million and $43 million, respectively.

These incidents underscore the vulnerabilities within the crypto ecosystem, highlighting the urgent need for improved security measures and protocols. The increase in both the number and scale of these attacks suggests that hackers are becoming more sophisticated and aggressive in their methods. As the industry continues to grow, stakeholders must prioritize strengthening defenses to protect assets and maintain trust in the system.