Unsecured networks have recently become widely used for the transmission of confidential images. Consequently, cryptography is crucial for ensuring data confidentiality. Developing a key that is resistant to statistical and differential attacks has always been a challenging objective. In this paper, a novel model is proposed to boost image encryption while maintaining key strength. The proposed model adapts MD5 and SHA-256 hash functions to produce a key. It generates four matrices, X, Y, Z, and W, by using a memristor hyperchaotic system. Arnold's transform was applied to the original image once the key was created. The images were then scrambled using five chaotic maps. The image is then DNA-encoded, diffused using three matrices, and finally DNA-decoded. The proposed model was assessed using twelve performance measures on nine popular images. Compared to previous studies, the results of the proposed model indicate a promising improvement in performance. It achieves a better performance by expanding the key space and increasing its sensitivity.