According to a report from PeckShield, 2024 saw losses of $3.01 billion from hacking and cryptocurrency fraud, a 15% increase from $2.61 billion the previous year. Of this, hacks accounted for the majority at $2.15 billion (71%), while $834.5 million came from fraud forms such as phishing and Ponzi schemes. This reflects the increasing vulnerabilities in the rapidly growing digital asset market.
Despite the significant losses, approximately $488.5 million has been recovered thanks to blockchain tracking and law enforcement.
Notable incidents include:
AlphaX DeFi Hack: $320 million (February).
Lumos Bridge Exploit: $250 million (July).
DeltaTrade Breach: $180 million (October).
The report highlights security risks in the DeFi ecosystem and calls for enhanced security audits, monitoring of smart contracts, and public education to reduce the risk of becoming victims.