In December 2024, more than 25 hacks in the cryptocurrency industry resulted in losses worth approximately $24.7 million, representing a 71% decrease compared to November.
December 2024 saw more than 25 Encryption breachesResulting in a total loss of $24.69 million, according to data from the blockchain security firm Peak Shield. This figure represents a decline of more than 70% compared to November losses open In X's post.
The largest incident involved LastPass, which caused $12.38 million in losses. Other victims included: Yeti Finance, GemPad, and FEG, each of which lost about $2.2 million, and Victim, which suffered $1.3 million in damage.
The chart shows a significant decline in monthly losses, which peaked earlier in 2024, such as $574.65 million in April. According to the data, December losses will be among the lowest in 2024.
The stolen funds were traced to different flows. For example, more than 550 Ethereum (Ethereum) and large amounts of Circle's stablecoin (US dollars) and Bitcoin (Bitcoin) were transferred via platforms such as ChangeNOW. Other stolen amounts included 310 ETH and 520 USDC, which were traced to various wallets via the sanctioned Tornado Cash program.
Previous reports from web3 security company Hacken open Cryptocurrency hacks cost nearly $3 billion in 2024. While overall losses were similar to 2023, attacks exploiting access control vulnerabilities saw a significant jump, making up 78% of the total. These flaws hit a range of sectors, from DeFi and centralized exchanges to gaming and Metaverse platforms, illustrating how attackers have shifted their focus over the course of the year.
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