COINOTAG News reports from December 24th, highlighting a concerning trend in the crypto landscape. The on-chain security firm Cyvers has disclosed that in 2024, hackers successfully pilfered assets worth over $23 billion across 165 incidents, marking an alarming 40% increase from the previous year when losses were recorded at $16.9 billion.
This year, 67 cybersecurity breaches attributed to access control vulnerabilities accounted for a staggering $19 billion in thefts, making up more than 81% of the total losses in the cryptocurrency domain. In a notable second position, smart contract vulnerabilities were responsible for $4.56 billion in stolen assets over 98 incidents, indicating their significant role as a major attack vector.