Cybersecurity firm Cyvers reported that the volume of cryptocurrency hacks increased significantly in the second quarter of 2024, with hackers stealing over $1.4 billion in the year as a whole.

In the second quarter of 2024, attackers managed to steal about $600 million, which is twice as much as in the same period last year. At the same time, the bulk of the funds were stolen as a result of hacks of centralized platforms, from which 900% more was stolen than in the second quarter of 2023.

“This quarter saw a significant shift in the attack vector. Hackers targeted centralized exchanges, while decentralized protocols proved more resilient. Perhaps this is due to the amount of funds concentrated on centralized platforms,” ​​Cyvers analysts wrote.

The main contribution to the second quarter’s figures was made by the hack of the Japanese cryptocurrency exchange DMM, from which hackers managed to withdraw assets worth $300 million. However, the number of attacks on centralized platforms in 2024 reached 20, while decentralized protocols were hacked only 10 times.


Cyvers analysts note that decentralized protocols have learned to quickly freeze stolen funds, so interest from hackers is declining. However, the risks of vulnerabilities in complex and cross-chain smart contracts remain high.

Earlier it was reported that the DMM Bitcoin exchange will raise $321 million to pay compensation to users affected by the hack.