The total value of cryptocurrency stolen in hacks worldwide more than doubled in the first half of 2024 compared to the same period in the previous year.
This increase was driven by a few large-scale attacks and the rising prices of cryptocurrencies, according to blockchain researchers TRM Labs.
By June 24, 2024, hackers had stolen over $1.38 billion worth of crypto, up from $657 million during the same timeframe in 2023, TRM Labs reported.
“While we have not seen any fundamental changes in the security of the cryptocurrency ecosystem, we have seen a significant increase in the value of various tokens – from bitcoin to ETH (ether) and Solana – compared to the same time last year,” said Ari Redbord, global head of policy at TRM Labs.
This means that cybercriminals are more motivated to attack crypto services, and can steal more when they do, Redbord said.
