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Cryptocurrency platforms experienced a massive surge in hacking incidents in 2024, with a total of $2.2 billion worth of digital assets stolen across 303 separate attacks. This marks a significant increase from the $1.8 billion stolen in 2023 from 282 hacks. Initially, decentralized finance (DeFi) platforms were the primary targets, but in the second and third quarters of 2024, there was a shift towards centralized services. The scale of these attacks demonstrates the growing sophistication of cybercriminals and highlights the urgent need for stronger security measures to protect user funds.

A large portion of the stolen funds, $1.34 billion, was attributed to North Korea-affiliated hackers, who were responsible for 47 of the attacks. The hackers are becoming more adept at stealing larger sums, and are targeting a broader range of amounts, which indicates an increase in the sophistication and intensity of cyber attacks. The shift in target from DeFi to centralized services suggests that a focus on securing mechanisms like private keys is now of even greater importance. This includes proper management to protect user assets in the future.

ImgSrc: img.helpnetsecurity.com

References:

• www.techmeme.com - In 2024, hackers stole $2.2B in crypto across 303 hacks, up from $1.8B across 282 hacks in 2023 - 6d
• Help Net Security - Cryptocurrency hackers stole $2.2 billion from platforms in 2024 - 6d

Classification:

• HashTags: Crypto Hacks Cybercrime
• Target: Cryptocurrency users
• Product: Crypto
• Feature: Crypto Hacks
• Type: Hack
• Severity: Major