Cryptocurrency Hacking Incidents Reach New Heights in 2024: Report Highlights Alarming Surge in Losses

As the crypto landscape continues to evolve, a recent report from Chainalysis has revealed a staggering increase in cryptocurrency losses due to hacks and attacks in 2024. According to the data, a total of $2.2 billion was stolen across 47 separate attacks throughout the year.

While this figure is already alarming, it’s even more concerning when considered in light of previous years’ statistics. In contrast, a mere $660 million was lost in 2023, highlighting an unprecedented surge in cryptocurrency thefts and hacking attempts.

The majority of these losses are attributed to Hyperliquid, which accounted for 61% of the total $2.2 billion stolen this year. This drastic increase has sparked concerns about North Korean hacking groups being involved in many of these attacks.

These attacks have also been notable for their size, with a significant number involving sums exceeding $50 million. The sheer scale of these thefts highlights the need for enhanced security measures and greater awareness among cryptocurrency users to protect themselves from these threats.

In addition to Hyperliquid, other platforms have also fallen victim to these malicious hacking attempts, including Ethereum and Solana.

Source: cryptoslate.com