Blockchain security firm CertiK has released a comprehensive report revealing that phishing scams have become the predominant security threat in the cryptocurrency industry this year, with losses surpassing $1 billion through nearly 300 separate incidents.

According to the report, these sophisticated attacks have contributed significantly to the overall security breaches in the crypto sector, which have resulted in total losses of approximately $2.36 billion—marking a 31.61% increase from 2023. The findings highlight an alarming trend in the digital asset space, with phishing attacks accounting for almost half of all cryptocurrency thefts in 2024.

Rising Threats and…