Published on augustus 29, 2024, 1:23 pm
Image source: Fox News
```json [ "TLDR: Cryptocurrency hackers have stolen over $1.2 billion in 2024, a 15.5% increase from last year. There were 154 hacks totaling $1.21 billion this year, with concerns rising in the crypto community. Despite the increase in value stolen, the frequency of hacks has decreased month to month. DeFi platforms were mainly targeted, but CeFi remains a weak point for security. Immunefi is a key player in safeguarding against these threats." ] ```
Cryptocurrency hackers have made off with over $1.2 billion in 2024 so far, marking a 15.5% increase compared to last year. This concerning trend has raised alarms within the crypto community regarding the growing prevalence of hacks and scams.
The latest data reveals that there have been 154 individual exploits resulting in losses of digital assets worth a total of $1.21 billion since the beginning of the year. This surge in hacking activity has experts like Mitchell Amador, founder, and CEO of Immunefi, worried that hackers may surpass the amount stolen in 2023.
Despite the significant increase in the value stolen this year, there has been a decrease in the frequency of hacks from month to month. August saw hackers make away with over $15 million, a stark contrast to July’s figure of $274 million.
Notable among these incidents were two major hacks: the $9.8 million Ronin Network breach and the $1.5 million Nexera exploit, both stemming from vulnerabilities during code upgrades.
Decentralized finance (DeFi) platforms bore the brunt of these attacks in August, although centralized finance (CeFi) remains a weak point for crypto security overall. While DeFi exploits are more commonplace, CeFi breaches tend to result in larger sums being stolen.
Immunefi, a leading onchain crowdsourced cybersecurity platform safeguarding over $190 billion in user funds, continues to play a crucial role in protecting against such threats within the cryptocurrency space.
Original article posted by Fox News
