According to a recent report released by cybersecurity firm Cyvers, the total amount of crypto funds stolen in 2024 is fast approaching $1.4 billion.
The report highlights centralized exchanges have become the new top target for exploits, with more than $600 million in losses recorded in the second quarter, representing a 100% increase over last year.
According to the report, this increase in stolen funds has been driven primarily by a sharp 900% increase in losses on centralized platforms.
The report also notes a shift in attack methods, with centralized platforms experiencing a higher number of incidents, while decentralized financial protocols (DeFi) have shown greater resilience.
This trend could be attributed to the high concentration of assets on centralized platforms and potentially weaker security measures on some exchanges.