Gold Finance reports that, according to the Cyvers Alerts system monitoring, the "pig butchering" scams in the cryptocurrency sector stole $3.6 billion in 2024, with most occurring on Ethereum. The scams are cunning, using trust to deceive victims into making false cryptocurrency investments, and then causing their funds to disappear. With a 40% increase in cyber threats this year, the cryptocurrency sector needs stronger defenses and sharper awareness to fight back.