Impact of $1.38 Billion Crypto Embezzlement and Market Rebound on Security and Recovery

Friday, 5 July 2024, 15:11

Amid a market resurgence, hackers stole $1.38 billion in cryptocurrency by June 24, 2024, as per TRM Labs. This amount is more than double the 2023 figure of $657 million. Large-scale attacks and rising crypto prices drove this surge, with the median theft size 1.5 times larger than last year.
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Impact of $1.38 Billion Crypto Embezzlement and Market Rebound on Security and Recovery

Cryptocurrency Theft Surge in 2024

An alarming $1.38 billion in cryptocurrency was embezzled by hackers by June 24, 2024, compared to $657 million in 2023.

Drivers of Increase

  • Market Rebound: Rising crypto prices incentivized theft.
  • Large-Scale Attacks: A few major breaches contributed to the spike.
  • Size Growth: Median theft size increased by 1.5 times.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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