The amount of cryptocurrency stolen in hacks globally more than doubled in the first six months of 2024, reaching over $1.38 billion, according to TRM Labs. This surge, driven by a few large attacks and rising crypto prices, marks a significant increase from $657 million in the same period in 2023.
Hackers targeted valuable tokens like Bitcoin, ETH, and Solana, with the median theft size increasing by 1.5 times. A major incident involved the theft of $308 million in Bitcoin from the Japanese exchange DMM Bitcoin.
Cybercriminals are increasingly motivated due to higher crypto prices, said TRM Labs’ global head of policy, Ari Redbord. Crypto prices have rebounded since the collapse of FTX in late 2022, with Bitcoin reaching an all-time high of $73,803.25 in March 2024.
Last year, total stolen cryptocurrency volumes were around $900 million, including a significant $600 million theft from Axie Infinity’s blockchain network, linked to North Korean hackers.
