In 2024, cryptocurrency hacks have resulted in $2.2 billion in losses, a 21% increase from the previous year, as revealed by Chainalysis. This marks the fourth consecutive year with over $1 billion in losses, with incidents rising to 303 from 282 in 2023. The surge in crypto theft parallels the 140% rise in Bitcoin value, exceeding $100,000, and growing institutional interest, supported by President-elect Donald Trump. The majority of stolen funds were due to compromises of users’ private keys on centralized platforms. Notable hacks included $305 million from Japan’s DMM Bitcoin and $235 million from India’s WazirX. North Korea-linked crypto hacks hit a record $1.3 billion, enabling the country to evade international sanctions despite its denial of involvement. Addressing these cybercrimes remains a significant challenge for the industry.