In 2024, hackers targeted both decentralized finance (DeFi) projects and centralized exchanges, resulting in record losses surpassing previous years. By Q3, over $2.2 billion had been stolen, compared to $1.8 billion in all of 2023. Major incidents include DMM Bitcoin losing $308 million in May due to stolen private keys and PlayDapp being hacked twice for $290 million in February through a private key vulnerability. Indian exchange WazirX experienced a $235 million breach linked to North Korea, while Ripple co-founder Chris Larsen lost $112.5 million in XRP. Other significant hacks include Orbit Chain ($80 million), BtcTurk ($54 million), and Radiant Capital ($50 million), attributed to social engineering techniques. The U.S. government also fell victim, losing over $20 million in seized funds from a Bitfinex hack, although much of it was swiftly returned. Overall, this year marked a dramatic increase in the scale and sophistication of crypto hacks, highlighting ongoing vulnerabilities in the sector.

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