According to Cyvers Alerts system monitoring, cryptocurrency hacking in 2024 caused $2.30 billion in losses, a 40% increase year-on-year, Cyvers Alerts CEO and co-financier According to Deddy Lavid, incidents are often exacerbated by private key breaches and weak key management systems, exemplified by high-profile hacks such as multi-signature wallets. Of the 67 cyber security incidents that occurred in 2024, access control breaches resulted in the theft of $1.90 billion worth of funds, accounting for more than 81% of total cryptocurrency hacking losses.