Centralized Exchanges Hit Hard as Crypto Theft Nears $1.4 Billion in 2024, Cyvers Report Reveals
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Centralized exchanges have become the primary targets for crypto thefts in 2024, according to Cyvers’ mid-year Web3 security report. The total volume of stolen cryptocurrency is nearing $1.4 billion this year. The second quarter of 2024 saw over $600 million in crypto losses, doubling the amount from the same period in 2023. This dramatic increase is largely due to a 900% rise in thefts from centralized exchanges. “This quarter has witnessed a significant shift in attack vectors, with centralized exchanges (CEX) bearing the brunt of major incidents, while decentralized finance (DeFi) protocols show improved resilience,” the report stated. “This trend
Source: CryptoIntelligence
