As 2024 gradually wraps up, the web3 security firm Cyvers has released a Security, Fraud, and Compliance Report for the year, detailing how much impact cybercriminals and their operations had on the crypto industry., in 2024, the crypto industry lost over $2.361 billion to cyber threats across 165 incidents. This figure represents a 40% increase from 2023, when losses totaled $1.69 billion.Cyvers noted that access control incidents accounted for 81% of losses in 2024 despite comprising 41.
Although the fraud trends in 2024 marked a 40% increase in losses year-over-year, they are still 37% below the 2022 record of $3.78 billion. This year, Ethereum emerged as the network most affected by the attacks, with more than $1.2 billion in losses.
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