In 2024, there were over 410 security breaches in the cryptocurrency industry, resulting in losses of $2.013 billion. DeFi platforms were the most affected, with 82.68% of breaches occurring in this sector. Ethereum suffered the greatest loss, with $465 million lost. The Japanese exchange DMM Bitcoin experienced one of the largest hacks, resulting in a loss of $330 million. North Korean hackers were responsible for this attack. Other notable hacks occurred at the Indian exchange WazirX and the PlayDapp blockchain gaming platform. Rug pulls, where scam projects run off with investor funds, also caused losses of $106 million in 58 cases. The incidents highlight the urgent need for better security, stricter regulations, and increased trust in digital assets. It is suggested that compulsory smart contract audits, tighter KYC and AML controls, and insurance pools for breach protection should be implemented. Cooperation between countries to combat cyber threats is also necessary. The role of the SEC and the Trump administration in advocating for cryptocurrencies and promoting investor protection is seen as crucial. The industry has the potential to build a safer and stronger system with clearer rules if regulators and developers collaborate effectively with the community.



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