With the total volume of stolen cryptocurrency funds approaching $1.4 billion this year, centralized exchanges are emerging as the new epicenter of attacks, according to a Cyvers cybersecurity report. 😱

In the second quarter of 2024, total losses in cryptocurrency exceeded $600 million, which is 2 times more than in the same period last year.

The main contribution to the increase in stolen funds was the 900% increase in losses on centralized exchanges.

Most of the funds stolen, about $490 million in the second quarter, were stolen through phishing attacks.

It is reported that victims of attacks are increasingly successfully recovering lost funds, with the total volume of recovered funds increasing by 42% in the second quarter compared to the same period last year.

However, the vast majority of lost funds - about 76% - were never recovered.