The Strategist

Analysts note doubling of cryptocurrency thefts in the world in the first half of 2024

07/10/2024 - 08:02

According to a research by analyst firm TRM Labs, in the first half of 2024, hackers stole more than twice as much cryptocurrency as they did the year before—$1.38 billion as opposed to $657 million.
The majority of the volume was taken in a few targeted strikes, much like in 2023. Hackers were able to take 70% of the total volume in just five hacks.

The biggest of these was the theft of almost $300 million worth of cryptocurrency from the Japanese cryptocurrency exchange DMM Bitcoin.

At that, TRM points out that there haven't been any significant adjustments made to the cryptocurrency ecosystem's security that could account for the rise in thefts. Additionally, there hasn't been much of a difference in the amount of attacks this year.

The first half of the year saw an increase in the average value of cryptocurrencies, which might have had an impact on the dollar value of thefts.