In December 2024, more than 25 cryptocurrency hacks were reported, resulting in a total loss of $24.69 million.
This represents a significant decline of over 70% compared to the losses recorded in November, as noted in an X post by the blockchain security firm PeckShield.
The most significant incident in December was LastPass, which incurred losses of $12.38 million. Other notable victims included Yeti Finance, GemPad, and FEG, each losing approximately $2.2 million, while Victim sustained damages of $1.3 million. The chart highlights a significant drop in monthly losses, which peaked in 2024, with April seeing losses of $574.65 million. December’s losses, however, stand as one of the lowest recorded throughout the year.
The stolen funds were tracked through various channels, including over 550 Ethereum (ETH), significant amounts of Circle’s USDC stablecoin, and Bitcoin (BTC) transferred via platforms such as ChangeNOW. Additionally, the funds connected to 310 ETH and 520 USDC were traced to different wallets through the sanctioned mixer Tornado Cash.
The report is consistent with previous findings from the Web3 security firm Hacken, which revealed that crypto hacks in 2024 led to nearly $3 billion in losses. While the overall losses were similar to those in 2023, attacks targeting access control vulnerabilities surged, making up 78% of the total. These vulnerabilities impacted various sectors, including decentralized finance, centralized exchanges, gaming, and metaverse platforms, underscoring the changing focus of attackers over the years.
Meanwhile, In June 2024, there was an increase in crypto exploitations, with hackers stealing $176.2 million worth of digital assets, according to PeckShield. This figure represents a 54.2% decrease from May’s losses, totalling $574.6 million. June’s losses were the second-lowest of the year, following April’s $60.19 million losses. Notably, 60% of the hacks targeted decentralized finance (DeFi) protocols, while the remaining 40% affected centralized finance (CeFi) platforms.
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