Cryptocurrency investors have had a difficult 2024, as hacks and scams exploit vulnerabilities, resulting in billions in losses.

Related to encryption Superhero and Tricks The industry cost $3.01 billion in 2024, reflecting a 15% increase from $2.61 billion in 2023, according to data published by PeckShield.

in Share X On Thursday, January 9, the blockchain forensics firm revealed that of the total losses, $2.15 billion came from hacks, while fraud amounted to $834.5 million. Approximately $488.5 million of the stolen funds were recovered.

According to PeckShield, more than 70% of losses were due to hacks, while fraud accounted for the remaining 30%. DeFi protocols remain the biggest target, contributing the majority of losses, as evidenced by the continued dominance of centralized finance on a year-over-year basis.

Some of the biggest heists of 2024 include the Japanese cryptocurrency exchange DMM Bitcoin hack, which lost $305 million, followed by PlayDapp ($290 million) and a BTC scam that took $238 million. Other multi-million dollar breaches targeted Indian cryptocurrency exchanges WazirX ($230 million) and Gala Games ($212 million).

Monthly data shows that May was particularly devastating, with total losses peaking at $662.2 million. July and August also saw heavy activity, with losses exceeding $280 million each. However, subsequent months showed a gradual decline, with December recording the smallest losses at $46.5 million.

As analysts at security company web3 Hacken earlier maleAttacks exploiting access control vulnerabilities rose sharply in 2024. According to the company, these flaws accounted for 78% of losses last year, impacting a wide range of sectors, including decentralized finance, centralized finance, and gaming/transfer platforms.