According to Cyvers, the 40% yearly increase was mainly driven by growing access control vulnerabilities amid centralized exchanges and cryptocurrency custodians.
Cryptocurrency hackers surpassed the previous year’s achievements, stealing over $2.3 billion worth of value from the Web3 ecosystem — a concerning sign for the industry’s mainstream acceptance.
Cryptocurrency hacks saw a sharp uptick in 2024, driven by the appeal of growing cryptocurrency valuations, after Bitcoin (BTC) surpassed the $100,000 mark for the first time on Dec. 6.
During 2024, crypto hackers stole over $2.3 billion worth of assets across 165 incidents, marking a 40% increase compared to 2023, when hackers stole $1.69 billion worth of crypto, according to a report shared by onchain security firm Cyvers.
