- Crypto hackers and scammers stole $400 million more in 2024 than in 2023
- PeckShield revealed that malicious actors pocketed over $3 billion in 2024
- Close to $500 million out of the $3 billion was however recovered
PeckShield, a blockchain security firm, has revealed that crypto hackers and scammers stole $400 million more in 2024 than in 2023. The firm also disclosed that hacked crypto projects recovered close to $500 million out of the $3 billion in crypto stolen in 2024. PeckShield noted most of the funds, $2.15 billion, were lost through hacks, a phenomenon that can be attributed to hackers continuously changing their tactics to nab unsuspecting victims.
Hackers Pocketed More Funds Than Scammers
According to PeckShield, the amount stolen through hacks was 42% higher than what was lost in 2023. The amount recovered was also however lower by close to 28% compared to 2023 when roughly $675 million was retrieved from hackers.
#PeckShieldAlert 2024 has witnessed a significant resurgence in crypto-related hacking activities. The total value of loss in 2024 has exceeded $3.01B, reflecting a ~15% increase over the $2.61B stolen in 2023.
This total includes $2.15B stolen from crypto hacks and $834.5M… pic.twitter.com/l58x17TE5m— PeckShieldAlert (@PeckShieldAlert) January 9, 2025
Scammers, however, pocketed less amounts in 2024 compared to 2023. PeckShield disclosed that scams contributed around $835 million of the total amount stolen in 2024 compared to the $1.1 billion registered in 2023.
PeckShield noted that the number of hacks and scams has been declining since 2022. Crypto companies that lost over $200 million to hacks and scams in 2024 include DMM Bitcoin, PlayDapp, SCAM (BTC), WazirX, and Gala Games.
Most of the funds were lost in May last year when the total amount lost to hacks was $662.2 million. February and August came second and third with $440.8 and $315.9 million respectively.
Hackers Focusing on “Massive Exploits”
PeckShield’s report comes three weeks after blockchain analysis firm Chainalysis estimated that hackers pocketed $2.2 billion in 2024. Chainalysis noted that hackers were focusing more on “massive exploits.”
Blockchain security firm Hacken also recently released a report showing that hackers siphoned more funds from centralized exchanges than decentralized platforms in 2024.
Although the number of hacks and scams has been declining since 2022, the amount stolen per incident is likely to increase in 2025.
