The year 2024 is witnessing significant fluctuations in the coin market, with a sharp increase in the value of Bitcoin and a surge in attacks on cryptocurrency platforms.
According to a report from Chainalysis, a blockchain analytics company, attacks on crypto platforms have increased by 21% compared to the previous year, causing stolen funds to reach 2.2 billion USD in 2024. This marks the fourth consecutive year that the total amount attacked has exceeded 1 billion USD, and the number of incidents has risen from 282 cases in 2023 to 303 cases this year.
In the context of a booming coin market, the price of Bitcoin has skyrocketed by 140%, surpassing the 100,000 USD mark. This increase has attracted the participation of institutions and received support from elected President Donald Trump of the United States.
However, along with the strong development of the market, security risks have also increased. Mr. Eric Jardine, head of cybercrime research at Chainalysis, stated that combating the rise of illegal activities, especially fraud, will be a major challenge for the industry in the coming year.
Some notable attacks include the theft of over 305 million USD from Japan's DMM Bitcoin exchange in May and the loss of 235 million USD from India's WazirX in July. Additionally, cryptocurrency-related attacks linked to North Korea have more than doubled compared to the previous year, reaching a record 1.3 billion USD in 2024.
According to Reuters, crypto provides North Korea with a means to evade international sanctions, although the country often denies involvement in cyberattacks or coin theft.
Source: Reuters
Through this article, CoinStation hopes you gain an overview of the new challenges and opportunities in the current coin market. Always be cautious and stay updated to protect your assets.
