The hacking amount exceeded $1 billion for the fourth straight year and the number of incidents rose to 303 from 282 in 2023, it said. Hackers had stolen $1.8 billion in 2023.<\/p>\r\n\r\n\r\n\r\n
The rise in crypto heists comes as bitcoin BTC= jumped 140% this year to surpass $100,000 mark, drawing institutional participation and backing from U.S. President-elect Donald Trump.
“As the digital asset market booms, it is typical to see the illicit use of crypto grow in tandem,” Chainalysis’ cybercrimes research lead Eric Jardine said.<\/p>\r\n\r\n\r\n\r\n
“Countering the proliferation of these crimes \u2014 especially fraud \u2014 will undoubtedly be a key challenge for the industry in the new year.”<\/p>\r\n\r\n\r\n\r\n
Compromises to private key that controls access to users’ assets accounted for the majority of stolen crypto this year with most of the attacks targeting centralized platforms, the report said.<\/p>\r\n\r\n\r\n\r\n
Among the most notable hacks are the theft of more than $305 million from Japan’s crypto exchange DMM Bitcoin in May and the loss of $235 million from India’s WazirX in July.<\/p>\r\n\r\n\r\n\r\n
Crypto hacking linked to North Korea more than doubled from a year ago to a record high of $1.3 billion in 2024, Chainalysis said.<\/p>\r\n\r\n\r\n\r\n
Cryptocurrency allows North Korea to circumvent international sanctions, the United Nations has said. The country routinely denies involvement in cyber hacking or crypto heists.<\/p>\r\n\r\n\r\n\r\n
Content Courtesy \u2013 Reuters<\/p>\r\n\r\n\r\n\r\n
<\/p>\r\n","protected":false},"excerpt":{"rendered":"
Cryptocurrency platforms faced a 21% surge in hacking losses in 2024, with stolen funds reaching a staggering $2.2 billion.<\/p>\n","protected":false},"author":2,"featured_media":1512,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-21181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"yoast_head":"\n