Crypto Heists Surge 84% In 2024 With Over $1.58B Stolen, Says Report
Portfolio Pulse from Murtuza Merchant
Crypto heists have surged 84.4% in 2024, with over $1.58 billion stolen through July. Despite a decrease in overall illicit activity in the cryptocurrency ecosystem, stolen funds and ransomware attacks have increased significantly. Centralized exchanges are being targeted more, with Bitcoin representing 40% of stolen assets. The average amount stolen per incident has risen to $10.6 million. Ransomware payments have also increased, with a single payment reaching $75 million. However, victims are paying ransoms less often, indicating better preparedness. The importance of blockchain analysis and law enforcement actions in combating these threats is emphasized.
August 15, 2024 | 12:02 pm
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Bitcoin now represents 40% of the total crypto assets stolen in exchange heists, up from 30% last year. This increase in thefts could lead to short-term volatility in Bitcoin's price as security concerns rise.
The significant increase in Bitcoin thefts from centralized exchanges highlights growing security concerns, which could lead to short-term price volatility as investors react to the heightened risk.
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