Crypto Hacks Rise to $19 Billion in 13 Years: Crystal Intelligence
The cryptocurrency industry has experienced 785 reported hacks and exploits in the past 13 years.
In the 13 years since June 19, 2011, nearly $19 billion in digital assets were stolen, the first known crypto hack, according to a Crystal Intelligence report shared with Cointelegraph.
The largest single crypto theft case was the 2019 Plus Token scam, when attackers made off with $2.9 billion worth of Bitcoin (BTC) and Ether (ETH).
In the past two years, the $290 million security breach against PlayDapp represents the largest single crypto heist, due in February 2024.
At the same time, the JPX Investment scam in Hong Kong was the largest single crypto fraud scheme, resulting in $194.3 million in stolen crypto.
Crypto hacks and exploits remain one of the biggest obstacles to mainstream trust and adoption. In the year Crypto hacks in 2024 are likely to peak in 2023, as the first quarter of 2024 saw $542.7 million in stolen funds, a 42% increase compared to the same period in 2023.
Related: UwU loans hit by $20M crypto hack
The most hacked It was in 2023, but 2022 saw the biggest loss in value.
While 2023 saw the highest number of crypto-related hacks reported, 2022 is still known as “the deadliest year for the value,” according to Crystal Intelligence.
By 2022, a total of 286 exploits have digitally stolen assets worth more than $2.3 billion.
However, 2022 resulted in $4.2 billion worth of stolen digital assets, nearly double the amount in 2023. However, the number of reported incidents stood at 199, which is 30 percent less than the 286 reported incidents in 2023.
“Despite improved and improved monitoring and reporting mechanisms, illegal activities on blockchain will continue to grow in 2023 and 2024,” according to a Crystal Intelligence report.
Related: CoinGecko Confirms Email Provider Data Breach, Over 23,000 Phishing Emails Sent
2023: More funds lost to security breaches than DeFi hacks
In 2023, there were 68 separate security breaches, resulting in attackers stealing more than $1 billion worth of digital assets.
In contrast, decentralized finance (DeFi) hacks resulted in only $835 million of stolen kriptovalyutnogo by 2023. But more than 112 DeFi hacks have been reported, which are smaller in size compared to security breaches that happen more often.
The Uller Finance hack represents the largest single DeFi hack in the past two years, resulting in $197 million worth of stolen Ether tokens.
In the year The 10 largest DeFi hacks that took place in 2023 and 2024 accounted for approximately $579 million in stolen assets.
Magazine: Caitlyn Jenner Meme Coin ‘Master Men' Celebrity Price List Released
