Cryptocurrency thefts surged in the first half of 2024, with hackers stealing over $1.38 billion globally.

This amount is more than double the amount stolen in the previous year.

The majority of thefts came from a few large attacks, commonly using private key compromises and smart contract exploits.

The largest attack occurred at DMM Bitcoin in May, resulting in the theft of over 4,500 coins worth $300 million.

Despite the increase in thefts, the total amount stolen in 2024 is still lower than in 2022.

The crypto industry faces challenges in regulations, interoperability, and institutional acceptance.

Blockchain-based solutions like stablecoins are gaining popularity for cross-border payments.

In March, the Solana network processed $1.4 trillion in stablecoin cross-border payments.

Major industry players include Antier Solutions, Ripple, BITMAIN Technologies Holding Company, and Coinbase Global Inc.