The main methods used by hackers include unauthorized access to private keys, vulnerabilities in smart contracts, and attacks on flash loans. Despite the lack of visible changes in cryptocurrency security protocols, TRM Labs suggests that higher token values in 2024 compared to 2023 are likely contributing to the increase in the amount of stolen money.
The lab found that there was “no significant difference in attack vectors or number of attacks between 2023 and the first half of 2024.”
According to media reports, the biggest hack of 2024 stole $300 million worth of bitcoin from Japanese crypto exchange DMM Bitcoin.
Source: Ferra
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