Losses from Cryptocurrency Hacks Surge in 2024

A Chainalysis report reveals a 21% increase in cryptocurrency hacking losses in 2024, reaching $2.2 billion—the fourth consecutive year exceeding $1 billion. This surge is attributed to the expanding crypto market, increasingly sophisticated hacking techniques, and platform vulnerabilities. North Korean hackers were significantly involved, stealing over $1.3 billion. Major exchanges like DMM Bitcoin and WazirX suffered substantial losses, impacting investor confidence and the industry's reputation, highlighting the urgent need for enhanced security measures.