A massive theft of billions of dollars in cryptocurrencies in record time
A recent report issued by blockchain research company TRM Labs revealed that hackers doubled their loot from cryptocurrencies in the first half of 2024 compared to last year.
The report stated that $1.38 billion worth of cryptocurrencies were stolen between January 1 and June 24, more than double the amount of $657 million stolen in the same period last year. As with last year, a cluster of high-profile attacks has led to an increase in stolen cryptocurrencies, with the five largest hacks accounting for 70% of the amount stolen in the first half of this year.
The largest hack so far this year has taken over $300 million worth of Bitcoin from Japanese cryptocurrency exchange DMM Bitcoin.
Hackers use stolen private keys or address poisoning - where attackers send a small amount of cryptocurrency from a wallet with a similar address that is designed to mimic yours or the recipient's address, with the aim of tricking the victim into sending funds to the wrong wallet.
Cryptographic addresses are long, complex strings of characters that are difficult to memorize or enter manually without making mistakes.
Great from year to year.
