Hackers have already taken more than $1.2 billion in cryptocurrency this year, which is a huge increase from the same time last year. This is 15.5% more than the same time in 2023, which makes people very worried about the safety of digital assets and the widespread use of cryptocurrencies.
Immunefi, a top cybersecurity tool in the crypto space, says that there have been 154 successful hacking events in 2024 that have cost a lot of money. Even though hacker activity dropped surprisingly in August—only $15 million was stolen compared to $274 million in July—the general trend is still very scary.
A $9.8 million hack into the Ronin Network was one of the most important events in August. It showed how vulnerable systems can be when code is updated. Nexera was the target of another big breach that cost them $1.5 million. These events show how important it is to keep strict security measures in place while blockchain technology is being developed and used.
Attacks on decentralized finance (DeFi) have happened a lot, but most of the loses this year have been caused by holes in centralized finance (CeFi) systems. Even though there were no known CeFi leaks in August, experts say that doesn’t mean the risk is gone. Hackers are still looking for holes in systems, and more attacks could cause big loses in the future.
Immunefi, which keeps user funds safe worth more than $190 billion, keeps stressing how important it is to be very careful with security as risks grow. To protect the future of digital banking, the crypto community needs to keep taking action to deal with these problems.
