Offchain transaction validation could prevent 99% of crypto hacks, scams

A blockchain security solution by Cyvers could prevent 99% of crypto hacks and scams, addressing vulnerabilities like phishing and CEX exploits that cost $2.3 billion in 2024.

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A new blockchain security solution could prevent more than 99% of cryptocurrency hacks and scams, which cost the industry over $2.3 billion in 2024.

Hacks remain one of the biggest barriers to mainstream cryptocurrency adoption, with stolen digital assets surpassing the previous year’s total by 40%, according to blockchain security firm Cyvers.

Total annual funds loss. Source: Cyvers

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