Cryptocurrency hacking losses to reach $2.3 billion by 2024
According to Cyvers Alerts system monitoring, cryptocurrency hacks caused $2.3 billion in losses in 2024, a 40% increase compared to the previous year. Deddy Lavid, CEO and co-founder of Cyvers Alerts, stated that these incidents are often exacerbated by weak private key and key management systems, with multi-signature wallets being a prime target for hackers. Of the 67 cybersecurity incidents that occurred in 2024, access control vulnerabilities led to the theft of $1.9 billion worth of funds, accounting for over 81% of the total losses from cryptocurrency hacks.
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