Crypto Thefts Skyrocket in 2024, Doubling in First Half

Crypto currency thefts have doubled in the first half of 2024 compared to last year, Khaama Press reported yesterday citing TRM Labs.

According to the report, hackers stole over $1.38 billion worth of crypto by June, exceeding the $657 million stolen during the same period in 2023. This surge is likely fueled by the rise in cryptocurrency prices, with Bitcoin reaching an all-time high earlier this year.

The report also found cybercriminals are targeting bigger scores, with the median amount stolen per attack increasing significantly. A major attack on a Japanese exchange stealing $308 million in Bitcoin exemplifies the vulnerability of crypto companies.

These findings highlight ongoing security challenges in the crypto space. As the market grows and digital assets become more valuable, robust security measures are crucial to protect investors and maintain trust in cryptocurrencies.