PakGazette – Cryptocurrency platforms lost $2.2 billion in 2024 due to hacking, a 21% increase from last year, according to Chainalysis.
This is the fourth consecutive year in which losses exceeded $1 billion, and incidents increased from 282 to 303 in 2023.
The surge comes as bitcoin has soared 140% this year, surpassing $100,000 and attracting institutional investors and the support of US President-elect Donald Trump.
“As the digital asset market grows, it is typical to see illicit use of cryptocurrencies grow alongside it,” said Eric Jardine, cybercrime investigation leader at Chainalysis.
Most of the stolen funds were due to private key breaches, primarily targeting centralized platforms. Major attacks included $305 million from Japan’s DMM in May and $235 million from India’s WazirX in July.
Crypto theft linked to North Korea reached a record $1.3 billion in 2024, more than double last year, the report said. The UN has previously stated that cryptocurrencies help North Korea evade sanctions, a claim the country denies.
