
📉 Crypto Industry Lost $1.49 Billion to Hacks and Fraud in 2024 🛡️
According to a report by Immunefi, the crypto industry suffered $1.49 billion in losses from hacks and fraud in 2024. While significant, this is a 17% decrease from the previous year, signaling some improvements in security.
Hacks remain the leading cause of losses, comprising the majority of the total. However, the reduction in overall losses could be attributed to enhanced security measures and advances in protective technologies, including bug bounty programs and improved monitoring systems.
Experts believe further loss reductions will depend on the wider adoption of decentralized solutions, increased user awareness, and international collaboration against cybercrime.