The year 20204 has seen numerous cryto hacks with over $2 Billion lost to over 300 hacks as per reports. American blockchain analysis firm Chainalysis has recently released a Crypto Crime Report highlighting data on crypto crimes from 2015 to 2024.
Source: Chainalysis
The data on the bar graph suggests that crypto hacks have increased over time, and 2024 experienced the maximum number of hacks in the crypto industry.
In contrast, the year 2022 witnessed the biggest loss of worth $3.7 Billion in 231 hacks.
Source: Chainalysis
The funds were stolen due to various vulnerabilities, with private key compromise being the major reason. This indicates that centralized exchanges are highly prone to crypto hacks, even after the KYC process and central authority.
DeFi platforms hacks happened due to smart contracts and security vulnerability, indicating the need to create robust security systems to protect the blockchain networks.
Top Crypto Hacks of 2024
Here are the top crypto
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