Malicious actors cost crypto more than $3bn in 2024

Losses from malicious activity in the crypto industry topped $3.01 billion in 2024, according to PeckShield.

#PeckShieldAlert 2024 has witnessed a significant resurgence in crypto-related hacking activities. The total value of loss in 2024 has exceeded $3.01B, reflecting a ~15% increase over the $2.61B stolen in 2023.
This total includes $2.15B stolen from crypto hacks and $834.5M… pic.twitter.com/l58x17TE5m

— PeckShieldAlert (@PeckShieldAlert) January 9, 2025

That marked a 15% increase on the $2.61 billion reported for 2023. In 2022, the figure was $3.15 billion.

More than 300 recorded hacks accounted for about $2.15 billion — 30% more than the previous year. The remaining $834.5 million resulted from scams.

Ethereum accounted for 47.3% of funds stolen over the year and 34.8% of hacks. Bitcoin ranked second by losses with 14.6% and was fourth by number of incidents, at 3.6% of attacks.

DeFi projects remained a favoured target, with 53.5% of losses linked to breaches of decentralised protocols.

There was also an increase in user cybersecurity lapses and poor private-key management in 2024. Such cases’ share among all attacks rose from 33% to 44% versus 2023.

The largest incidents were the hacks of DMM Bitcoin with $305 million in losses, PlayDapp at $290 million, and WazirX at ~$230 million.

About $488.5 million in stolen assets were recovered during 2024.

In 2024, CertiK analysts noted a rise in phishing activity.