**Crypto Hacks on the Rise: Offchain Vulnerabilities Lead the Charge**

A deep dive into the 100 largest cryptocurrency hacks reveals that offchain vulnerabilities are the main culprits, accounting for 57.5% of financial losses in top DeFi hacks. Mar Guimenez-Aguilar from Halborn cybersecurity firm highlights that compromised private keys alone were responsible for 52.2% of attacks in 2024.

Recent incidents, like the $230 million hack on WazirX, underscore the growing threat. Despite efforts to secure smart contracts, external vulnerabilities and user behavior remain significant risks.

In 2024, crypto hacks could surpass 2023 levels, driven by increasing total value locked in DeFi. With 14 major incidents already this year, the trend suggests a potential rise in attacks and financial losses.