currencyjournals — Cryptocurrency platforms misplaced $2.2 billion to hacks in 2024, up 21% from the earlier yr, in line with Chainalysis.

That is the fourth consecutive yr that losses exceeded $1 billion, and the variety of accidents in 2023 elevated from 282 to 303.

The surge comes as Bitcoin has soared 140% this yr, surpassing $100,000 and gaining help from institutional buyers and US President-elect Donald Trump.

“Because the digital asset market grows quickly, it is not uncommon for cryptocurrency fraud to extend with it,” stated Eric Jardine, head of cybercrime analysis at Chainalysis.

Many of the stolen funds got here from personal key compromises that primarily focused centralized platforms. Key hacks included $305 million from Japan's DMM in Might and $235 million from India's WazirX in July.

In accordance with the report, North Korea-related cryptocurrency theft will attain a report excessive of $1.3 billion in 2024, greater than doubling from final yr. The United Nations beforehand stated cryptocurrencies might assist North Korea evade sanctions, a declare the nation denies.