Crypto Industry Faces $3.01 Billion Losses in 2024, Up 15%

The crypto industry faced significant challenges in 2024, with losses exceeding $3.01 billion, a 15% increase from $2.61 billion in 2023, according to blockchain security firm PeckShield.

Key Highlights

Hackers accounted for $2.15 billion of the total losses, over 71% of the amount stolen.
Crypto-related scams resulted in over $834.5 million in losses.
Recovery efforts yielded nearly $488.5 million in retrieved stolen crypto.
The rise in thefts may be linked to increased popularity of decentralized finance platforms.
Industry plans to enhance security measures to prevent future losses.

Despite setbacks, the industry remains focused on advancing global crypto adoption while addressing urgent security concerns.