BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

Crypto Hacks, Scams Hit $29M in December, Lowest in 2024

by Dan K
Jan 3, 2025 - 4:57 pm
in Blockchain
View of Dubai skyline symbolizing UAE’s growing crypto and blockchain industry

December Sees Decline in Crypto Losses

Crypto hacks, scams and exploits declined to $28.6 million this December 2024, marking the lowest monthly loss seen in the year 2024. This is considered a big drop from a year that’s mostly characterized by higher losses at $63.8 million in November and $115.8 million in October. Data from blockchain security firms CertiK and PeckShield show that December was mostly quiet for crypto, even though the space remains vulnerable.

Key Takeaways of December Losses: CertiK Reports on Exploits According to CertiK, exploits accounted for the majority of December’s losses, with $26.7 million stolen. The most prominent incident was the $2.1 million theft that happened on the DeFi platform GemPad, wherein hackers attacked its smart contracts.

Other prominent attacks include the theft of $1 million from the FEG token bridge, which, upon investigation, CertiK found was caused by an error in the verification of cross-chain messages, enabling attackers to withdraw tokens without depositing them first.

PeckShield’s Findings

Data from PeckShield showed hack-related losses of $24.7 million last December, which is 71% lower than November. Among the 25 incidents that it tracked, the most notable was the $12.3 million exploit that hit LastPass users. This was linked to a 2022 data breach wherein hackers stole encrypted customer vault backups that would later allow them to gain access to sensitive crypto assets.

Another incident was the $2.2 million breach of the Yei Finance protocol on Dec. 2, further showing how much vulnerability a DeFi platform carries with it.

Annual Trends in Crypto Security

While December was a relatively slow month in terms of losses, a total of 2024 had seen $2.3 billion of crypto thefts across 165 incidents so far, per Cyvers. The cumulative total is up 40% over the $1.69 billion stolen in 2023 but is significantly lower than the $3.78 billion lost in 2022.

The CEO of Cyvers, Deddy Lavid, attributed this increase in 2024 to access control breaches, especially at centralized exchanges and custodians. These breaches are one of the main issues that the industry faces and prove that security should be enhanced not only on decentralized but also on centralized platforms.

Looking Ahead

Although the decline in December brought some relief, the crypto industry still needs to work harder in closing security gaps that make losses possible. In 2025, stronger protocols, better auditing, and increased user awareness will be key in reducing vulnerabilities.

Tags: BlockchainRegulationWeb3
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

Exterior view of the Czech National Bank building in Prague, symbolizing the institution’s financial strategies and innovation.

Bank of England Governor Says Stablecoins Could Reduce Reliance on Banks

October 1, 2025

Andrew Bailey says stablecoins could reduce UK reliance on commercial banks by separating money from credit, signaling a...

blockchain

Spacecoin Executes First Blockchain Transaction Through Space

October 1, 2025

Spacecoin has achieved the first-ever blockchain transaction through space using a nanosatellite, marking a milestone for decentralization and...

The headquarters of the Autorité des Marchés Financiers (AMF) Investor in Paris, France, the regulatory body warning investors against ByBit.

French Officials Pressured Telegram to Censor Moldova Election Posts: Durov

September 28, 2025

Pavel Durov revealed French intelligence pressured Telegram to censor Moldova election content in 2024, which he refused, citing...

Wall Street financial district with Bitcoin symbol representing institutional adoption

Bitcoin skepticism fades as nations gear up for adoption, says Samson Mow

September 28, 2025

Samson Mow predicts nation-states will move from skepticism to rapid Bitcoin adoption, fueling global FOMO and a rush...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service