Crypto Losses Surpassed $3
Billion in 2024: Peckshield
Crypto Losses Surpassed $3 Billion in 2024: Peckshield
Roughly $488.5 million worth of stolen crypto assets were recovered,
representing a 27.62% decline from the $674.9 million recovered in 2023.
By Vismaya V
Jan 9, 2025 Jan 9, 2025
3 min read
Image: BravissimoS/Shutterstock
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The crypto industry faced $3 billion in losses due to hacks and scams in 2024,
marking a 15% increase from $2.61 billion in 2023, according to blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
security firm Peckshield.
Hacks accounted for $2.15 billion—or over 70%—of total losses, a 42.38%
increase from $1.51 billion in 2023, while scams contributed $834.5 million,
as per the security firm’s annual report .
It was harder to recover stolen funds in 2024. Approximately $488.5 million
worth of stolen crypto assets were recovered, representing a 27.62% decline
from the $674.9 million recovered in 2023.
#PeckShieldAlert 2023 saw 600+ major hacks in the crypto space, resulting in
~$2.61B in losses, with $674.9M recovered.
$1.51B lost to hacks (excluding #Multichain unauthorized withdrawals) &
$1.1B to scams. This marks a 27.78% decrease from 2022. #DeFi protocols
remained prime… pic.twitter.com/G7PIU3WyrX
— PeckShieldAlert (@PeckShieldAlert) January 29, 2024
While recovering nearly half a billion dollars is a promising step, the sheer
scale of stolen funds exposed the pressing need for better security protocols
across the industry.
PeckShield did not immediately respond to Decrypt’s request for comment.
DeFi Under Fire
Decentralized finance (DeFi) protocols remained the most vulnerable, as their
inherent weaknesses continued to attract cyber criminals.
Peckshield identified May as the most devastating month, with losses peaking
at $662.2 million. July and August also recorded significant activity, with
losses exceeding $280 million each.
December, however, saw a notable decline, with losses dropping to $46.5
million—the lowest monthly total of the year.
Among the largest heists of the year was Japanese exchange DMM Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s $305
million hack, followed by a $290 million breach of PlayDapp and a $238 million
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin scam.
The Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin scam involved a Genesis creditor falling victim to a social
engineering attack by scammers posing as Google• Объект организация » Организации по алфавиту » Организации на Go » Google (компания) support. The attackers stole
4,064 BTC, according to onchain sleuth ZachXBT.
Indian crypto exchange WazirX and Gala Games also suffered substantial losses,
with $230 million and $212 million stolen, respectively.
Phishing on the Rise
Last week, blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн security firm CertiK warned about the growing threat of
phishing scams, which emerged as the most significant security challenge of
2024.
These scams, which trick victims into sharing sensitive information such as
private keys, caused over $1 billion in losses across 296 incidents, Certik
noted in its annual Web3 security report.
The firm reported an average loss per phishing scam surpassing most other
attack vectors. At least three phishing attacks in 2024 resulted in losses
exceeding $100 million each.
Meanwhile, there’s been some business• Экономика » Бизнес news in the crypto security sector.
Blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн analytics firm Chainalysis recently acquired Hexagate, a Web3
security provider.
Edited by Stacy Elliott .
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