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According to the security firm, hacks accounted for more than 70% of crypto losses due to illicit activities in 2024, compared to 30% for scams.
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Blockchain security firm PeckShield reported that hackers and scammers stole more than $3 billion in crypto-related activities in 2024, a significant increase over that of the previous year.
In a Jan. 9 X post, PeckShield retweeted data from its 2024 report suggesting that crypto hackers and scammers had stolen $400 million more in the last 12 months than in 2023 — a roughly 15% increase. However, PeckShield’s data showed that the overall number of hacks and scams had been decreasing since 2022 and tapered off at the end of 2024.
“This [2024] total includes $2.15B stolen from crypto hacks and $834.5M stolen from scams,” said PeckShieldAlert. “Notably, ~$488.5M worth of stolen cryptos has been recovered.”
Report on 2024 crypto activity. Source: PeckShieldAlert
Security firms, including PeckShield, have been releasing reports detailing illicit crypto activities in 2024. Chainalysis estimated that hackers stole roughly $2.2 billion worth of crypto in the last 12 months, with assets from DeFi platforms accounting for the largest share of stolen digital assets in the first quarter of 2024.
Concerns on AI and ‘evolving’ scams in 2025
Among crypto-related scams, CertiK said in January that phishing attempts were the “most costly attack vector” in 2024. Bad actors stole more than $1 billion worth of crypto across 296 phishing incidents.
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Many in crypto have predicted that 2025 could present challenges for users facing scammers and hackers looking to capitalize in an industry growing from institutional adoption and increasing acceptance by regulators. The development of AI, in particular, could cause phishing tactics to “evolve,” according to a CertiK spokesperson.
Chainalysis, PeckShield, and CertiK seemed to agree that crypto-related illicit activities surged from 2023 to 2024. However, data suggested both the number of incidents and the amount of digital assets stolen decreased compared to that in 2022, during a market downturn and crackdowns by many global regulators.
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This article first appeared at Cointelegraph.com News
