Crypto theft is on the rise, with stolen funds nearing $1.4 billion this year, according to cybersecurity firm Cyvers. Centralized exchanges are becoming hotspots for such exploits, with losses in Q2 2024 alone exceeding $600 million, a 100% increase from last year. The majority of these thefts are due to access control breaches, often through phishing attacks. Despite this, the report notes an improvement in the recovery of lost funds, with a 42% increase in Q2 compared to last year. However, 76% of stolen funds remain unrecovered. As AI and quantum computing evolve, users are warned of potential new threats to onchain security.