Crypto hacks in 2024 prompted almost $3 billion in damages, with entry management flaws driving 78% of the losses, knowledge exhibits.
2024 proved to be one other difficult yr for blockchain safety, with almost $3 billion misplaced to crypto hacks, in line with Hacken’s newest analysis report.
Though the entire monetary impression was on par with 2023, assaults exploiting entry management vulnerabilities surged sharply. Hacken’s knowledge exhibits these flaws accounted for 78% of the losses, affecting a variety of sectors, together with decentralized finance, centralized finance, and gaming/metaverse platforms.
In keeping with the report, entry management vulnerabilities turned out to be the largest risk, accounting for 75% of crypto hack losses, excluding phishing. In the meantime, DeFi accounted for 20.4% of whole hack losses, whereas CeFi losses made up 30%, the report reads. The gaming and metaverse sectors additionally confronted main losses, totalling $389 million — about 20% of all crypto hack damages.
On the identical time, cross-chain bridge-related losses noticed a notable drop to $117 million, down from $330 million in 2023 and $1.9 billion in 2022. Moreover, the blockchain safety agency famous that crypto initiatives confronted elevated DNS hijacking incidents, highlighting the necessity for complete safety methods.
Hacken claims the info was sourced from verified crypto undertaking reviews, together with platforms like X, post-mortems, and databases.
