2024 saw $2.2 billion in cryptocurrency lost to hacking activities compared to last year’s $1.8 billion, marking a 21% increase.
The number of hacking incidents also increased from 282 in 2023 to 303 this year.
The increase in crypto thefts coincides with Bitcoin’s incredible rise past the $100,000 mark.
This has caught the attention of many, including hackers.
Hackers are targeting crypto platforms in particular, compromising private keys, which are essential for accessing digital assets.
The most shocking incidents include the theft of $305 million from Japan’s DMM Bitcoin in May and $235 million from India’s WazirX in July.
North Korea-related cybercrime has been a major concern this year.
The amount of cryptocurrency stolen by North Korean hackers has surpassed a record $1.3 billion, more than doubling the amount in 2023.
Experts believe cryptocurrencies are helping North Korea evade international sanctions, even though the country denies their involvement.
Cryptocurrency platforms should work to prevent hacking activities and keep their users safe.
