Key Takeaway:
Key points related to cybercrime in the crypto sector include a significant increase in theft, with hackers stealing nearly $1.38 billion in the first half of 2024, doubling last year’s figures. Major breaches have dominated this year’s thefts, with the top five incidents accounting for 70% of the total haul. Private key compromises, address poisoning, smart contract exploits, and flash loan attacks are identified as primary attack vectors.
Cybercrime Trends in the Crypto Sector
Theft in the crypto sector has surged in 2024, with hackers stealing $1.38 billion from investors in the first half of the year. This amount is nearly double the $657 million stolen in the same period in 2023. Major breaches continue to dominate the theft landscape, with a few incidents responsible for a large portion of the total stolen funds.
Hacker Attack on DMM Bitcoin Exchange
In a significant security breach in May, DMM Bitcoin, a Japanese crypto exchange, faced a hacker attack resulting in the loss of over 4,500 BTC valued at over $300 million at the time. TRM Labs highlights stolen private keys, address poisoning, smart contract exploits, and flash loan attacks as prevalent attack vectors in 2024.
Phishing Scams and Theft Volume
Scam Sniffer data reveals an increase in phishing scams targeting EVM chains, with over $300 million stolen from approximately 260,000 victims in the first half of 2024. The rise in theft volumes each month compared to 2023 indicates a concerning trend in cybercrime within the cryptocurrency space.
