Wu said that according to Cyvers Alerts monitoring, in 2024, "pig butchering" scams in the cryptocurrency sector stole $3.6 billion, with most occurring on Ethereum. These scams are cunning, using trust to trick victims into false cryptocurrency investments, then disappearing with the funds. The report shows that cyber threats in 2024 increased by 40% compared to the previous year. In 2024, three main types of attacks caused significant losses: "Access control vulnerabilities: resulted in $1.9 billion in losses across 67 incidents; Smart contract vulnerabilities: resulted in $456.8 million in losses across 98 incidents; Address poisoning attacks: resulted in $68.7 million in losses in one incident."