Losses from crypto hacks and scams increased in 2024, according to blockchain security firm PeckShield.
The company said the total value loss in the crypto sector last year exceeded $3.01 billion, a 15% increase from the 2023 total.
This figure includes $2.15 billion stolen in hacks and $834.5 million embezzled through scams. PeckShield also notes that $488.5 million in looted crypto has been recovered.
Despite the increase in crypto losses last year, 2024 still hasn’t been as prolific as 2022, which saw a $3.6 billion loss in value.
The biggest heist of last year occurred in May when North Korean hackers stole more than $300 million worth of Bitcoin (BTC) from Japanese crypto exchange DMM.
U.S. and Japanese government investigators say the breach began in March when a hacker posed as a recruiter and sent a malicious GitHub link to an employee of Ginco, a DMM partner company. After the employee copied the link to his personal account, a North Korean group known as “TraderTraitor” gained access to the system and then posed as the employee to infiltrate company communications. DMM.
The hackers then intercepted and modified a legitimate transaction request from DMM, authorities said.
In December, blockchain security firm Chainalysis noted that North Korean hackers stole more crypto in 2024 than any previous year, plundering $1.34 billion in digital assets in 47 incidents.
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