In 2024, the cryptocurrency industry experienced a significant increase in hacking and scam activities, resulting in losses of over $3.01 billion. This marks a 15% rise from the previous year's losses of $2.61 billion. Of the total losses, $2.15 billion came from hacks, while scams accounted for $834.5 million. However, around $488.5 million of the stolen funds were recovered. More than 70% of the losses were due to hacks, with decentralized finance protocols being the primary target. The largest heists included the hack of Japanese crypto exchange DMM Bitcoin, PlayDapp, and a BTC scam. May was the most devastating month, with total losses reaching $662.2 million. Access control vulnerabilities were the main cause of these attacks, accounting for 78% of the losses.



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