Crypto Theft Doubles in 2024, Reaching $1.4 Billion

Report reveals a significant increase in cryptocurrency hacks, driven by a few large-scale attacks and rising crypto prices.

Hackers stole $1.38 billion in cryptocurrency in the first half of 2024, more than double the amount stolen in the same period in 2023.
Five major hacks accounted for 70% of the total stolen value, with the largest involving over $300 million from Japanese exchange DMM Bitcoin.
Common attack methods included private key and seed phrase compromises, smart contract exploits, and flash loan attacks.
Despite the increase in theft value, the number of attacks and security measures in the crypto ecosystem showed no notable changes.
The rising value of cryptocurrencies like Bitcoin and Ethereum has made them more attractive targets for cybercriminals.