Cryptocurrency Hacks 2024: Centralized Exchanges Hit Hard with 900% Surge in Theft
In 2024, cryptocurrency hacks have shifted focus to centralized exchanges, witnessing a 900% rise in stolen funds in comparison with final 12 months, based on Cyvers. Their mid-year safety report exhibits practically $1.4 billion in whole stolen crypto, with $600 million misplaced in simply Q2. This represents a 100% enhance from the identical interval in 2023. Whereas DeFi protocols have gotten extra resilient, centralized exchanges face important breaches because of asset focus and attainable safety lapses. The rise in cryptocurrency hacks 2024 highlights the pressing want for stronger safety measures on these platforms.