December’s crypto losses from hacks were lowest in 2024: PeckShield
In December 2024, more than 25 hacks in the crypto sector resulted in losses of approximately $24.7 million, a 71% decrease from November.
December 2024 saw more than 25 crypto hacksleading to a total loss of $24.69 million, according to data from blockchain security company Peck Shield. This figure represents a drop of more than 70% compared to November’s losses, according to the company revealed in an X post.
The main incident concerns LastPass, which accounted for $12.38 million in losses. Other victims included Yeti Finance, GemPad and FEG, which each lost approximately $2.2 million, and Victim, which suffered $1.3 million in damages.
The chart shows a huge drop in monthly losses, which peaked earlier in 2024 at $574.65 million in April. According to the data, December’s losses turn out to be among the lowest in 2024.
The stolen funds were traced to various flows. For example, over 550 Ethereum (ETH) and significant amounts of Circle’s stablecoin (USDC) and Bitcoin (BTC) were moved through platforms like ChangeNOW. Other amounts stolen included 310 ETH and 520 USDC, allocated to different wallets via the sanctioned mixer Tornado Cash.
Previous reports from Web3 security company Hacken revealed that crypto hacks cost nearly $3 billion in 2024. While overall losses were similar to 2023, attacks exploiting access control vulnerabilities saw a sharp increase, accounting for 78% of the total. These breaches affected a wide range of industries, from decentralized finance and centralized exchanges to gaming platforms and metaverses, showing how attackers shifted their focus throughout the year.
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