According to a report by Immunefi, crypto hacks have reached $1.48B in 2024, marking a 15% decrease from the $1.76B lost during the same period in 2023, offering some relief to investors but highlighting the persistent security challenges in the industry.
In November alone, crypto hacks led to the theft of more than $71 million worth of digital assets. Among the largest incidents was the $25.5 million Thala hack, involving a farming vulnerability. Fortunately, the protocol managed to recover all the stolen assets.
https://x.com/immunefi/status/1862136354512970182
The second-largest hack of the month occurred on November 18, when DEXX lost $21 million, affecting over 900 investors.
The report reads:
In total, we have seen a loss of $1,489,921,677 to hacks and rug pulls in 2024 YTD across 209 specific incidents. This represents a 15% decrease compared to the same period in 2023, when losses totaled $1,757,680,745.
Despite the recovery in some cases, the cumulative losses in 2024 remain substantial, spanning 209 incidents. These include various methods such as hacking, exploiting vulnerabilities, and rug pulls.
Related: Bitfinex Hacker Faces Five Years in Prison
The increase in the total value locked (TVL) in decentralized finance (DeFi), up by over 164% since the end of 2023, has heightened the appeal of the cryptocurrency ecosystem to hackers. The growing value of major cryptocurrencies and DeFi projects creates more lucrative targets, emphasizing the need for improved security measures.
For instance, WazirX, a prominent Indian cryptocurrency exchange, suffered a significant security breach, losing $234 million
Since its inception, the cryptocurrency industry has faced substantial financial losses from cyberattacks. As of mid-2024, cumulative losses from over 785 reported hacks and exploits in the past 13 years exceeded $19 billion.
Zcash (ZEC) has climbed to levels unseen since 2017, topping Monero (XMR) in market cap…
Abita Springs, Louisiana, 31st October 2025, ZEX PR WIRE— After four years of building, PRDT,…
Bybit, the second-largest cryptocurrency exchange by trading volume, plans to stop new user sign-ups from…
Singapore, October 30th, 2025 – The Qtum Foundation today announced the launch of Qtum Ally,…
After six months of successful beta testing, BeCEXy announces the full launch of its platform.…
Dubai, UAE, 29th October 2025, ZEX PR WIRE, As traditional cryptocurrency giants like Bitcoin and…