The post Crypto Security Breaches Report 2024: $2.36 Billion Lost to Cyber Attacks appeared first on Coinpedia Fintech News
The cryptocurrency industry experienced a lot of success in the year 2024 in terms of entry into the mainstream market. With that, the industry also saw major security breaches. The annual report by Certik is revealing; it shows 760 breaches the crypto industry lost over $2.36 billion in losses, a 31.61% increase from 2023.
Escalating Threats
It was the year that saw more frequent and intense cyber security threats. Hackers used more sophisticated techniques and the most common was phishing one. Phishing was again the biggest source of funds that were stolen and this ranged to $1.05 billion, 296 times with 3 occurrences of events with over $100 million. Marching next to it was private key compromises that involved $855 million in losses in 65 attacks.
Most Affected Chains, Ethereum Dominates Again
Ethereum was the most targeted case with 403 incidents
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