In 2024, the volume of cryptocurrency thefts grew to $2,2 billion, which is 21% more than last year, according to a report by analysts Chainalysis.
The crypto industry has seen 303 hacks so far this year, up from 282 in 2023. These hacks have resulted in significant losses, with the bulk of the funds, nearly $1,58 billion, stolen from January to July. That period accounts for 72% of the industry’s total losses in 2024, up 84% from the same period in 2023.
Unlike previous years, the main target of hackers fell on centralized exchanges. Notable incidents included the hacking of the DMM protocol Bitcoin by $305 million in May and the WazirX crypto exchange by $235 million in July.
Most thefts involved compromised private keys, accounting for nearly 2024% of all stolen funds in 44.
Hackers from North Korea once again led the hacking spree, with 47 attacks totaling around $1,34 billion. That’s 61% of all crypto industry losses this year, 103% more than the $660 million stolen by North Korean groups in 2023.
Chainalysis experts have identified an interesting pattern: after the summit between Russian President Vladimir Putin and North Korean leader Kim Jong-un at the end of June, the number of attacks by North Korean hackers has noticeably decreased. After July 1, the average daily volume of stolen funds decreased by almost 54%.
