Cryptocurrency Theft Reaches $2.2 Billion in 2024

After a significant decline in 2023, these hacks have surged by 21% this year, according to the latest report from Chainalysis.

Chainalysis, a leading blockchain analytics firm, published its annual report on global cryptocurrency theft on December 19, 2024. According to the report, cybercriminals stole the equivalent of $2.2 billion (€2.12 billion) in 2024, marking a 21% rebound following the sharp decline observed in 2023.

Last year, cryptocurrency theft amounted to “just” $1.8 billion (€1.73 billion). By comparison, it totaled $3.7 billion (€3.56 billion) in 2022 and $3.3 billion (€3.2 billion) in 2021.

In 2024, Chainalysis recorded 303 cryptocurrency theft incidents, averaging approximately €7 million per case. The most profitable attack occurred in May 2024, targeting the Japanese exchange platform DMM Bitcoin, resulting in losses of $305 million (€293 million). The second-largest theft targeted India-based WazirX in July 2024, with $235 million (€226 million) stolen.

To mitigate such risks, Chainalysis advises cryptocurrency investors to enable multi-factor authentication and regularly update their passwords. The company also recommends storing private keys offline and choosing platforms with “robust security protocols and insurance coverage.”