How much was lost

Cryptocurrencies worth this amount were stolen from crypto platforms in 2024 $2.2 billionThis is 400 million more than last year. It was also the fifth year in the past decade that more than $1 billion was stolen. This mark was also surpassed in 2018, 2021, 2022 and 2023, Channel 24 reported with reference to Chainalytics.

An interesting change noticed this year is where cryptocurrency is being stolen from. In previous years and in the first quarter of 2024, DeFi (decentralized finance) platforms were the main targets of cryptocurrency theft. However, in the second and third quarters, the focus shifted to centralized platforms. The most notable hacks occurred on the compromised DMM Bitcoin and WazirX platforms. $305 million And $234.9 million in accordance with.

Due to the increasing number of attacks on centralized platforms, Chainaliz emphasized the importance of private key security. A significant 43.8 percent of the breaches involved compromising private keys that allowed hackers to access funds. The report suggests that centralized platforms should take private key security more seriously to prevent theft.

Who steals the most?

Another notable aspect of cryptocurrency theft is the role it plays north korea. This closed country managed to steal as much as 1.34 billion crypto assets in 47 incidents in 2024. 61% of all cryptocurrenciesstolen this year and incidents accounted for 20% of all cases.

Chainalytics says the country is “sophisticated and ruthless” when it comes to cryptocurrency theft. He uses his ill-gotten gains to develop nuclear weapons and ballistic missiles.

With the price of Bitcoin reaching new highs in recent weeks, hacking cryptocurrency services is becoming increasingly attractive to criminals looking to make money. That’s why the platforms people trust need to do everything they can to strengthen their security to prevent breaches.