According to the latest report from the on-chain security company Cyvers, on December 24, 2024, losses from cryptocurrency hacks reached $2.3 billion, a 40% increase from 2023.

Data shows that there were a total of 165 attack incidents throughout the year, with losses due to access control vulnerabilities amounting to $1.9 billion, accounting for 81% of total losses; smart contract vulnerabilities caused $456 million in losses, while address fraud attacks resulted in approximately $68.7 million in losses.

Cyvers CEO Deddy Lavid stated that vulnerabilities in private key management of centralized exchanges and cryptocurrency custodians are the main sources of risk, and warned that North Korean hackers might shift their focus to Bitcoin ETFs in 2025.