Crypto Theft Reaches $2.2 Billion in 2024: Chainalysis Report

Crypto Theft Reaches $2.2 Billion in 2024: Chainalysis Report

The total value of cryptocurrency stolen in hacks rose by 21% in 2024, reaching $2.2 billion, according to a report by blockchain analytics firm Chainalysis. This marks the fourth consecutive year with losses exceeding $1 billion, as the number of incidents increased to 303, up from 282 in 2023.

Key vulnerabilities included compromised keys that provide access to user assets, with centralized platforms being the primary targets. Notable hacks included the $305 million theft from Japan’s 🇯🇵 DMM Bitcoin exchange in May and $235 million from India’s 🇮🇳 WazirX in July.

North Korea-linked cyberattacks doubled from last year, hitting a record $1.3 billion in stolen assets. Chainalysis highlighted that combating these crimes, particularly fraud, will be a major industry priority in the coming year.