Token

Crystal

The cryptocurrency industry suffered 785 reported hacks and exploits during the past 13 years.
Nearly $19 billion worth of digital assets were stolen in the 13 years since June 19, 2011, when the first known crypto hack was reported, according to a Crystal Intelligence report shared with Cointelegraph.
The largest single crypto theft case remains the 2019 Plus Token fraud when attackers netted $2.9 billion worth of Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) and Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>).
During the past two years, the $290 million security breach on PlayDapp represented the largest single crypto heist, back in February 2024. 
During the same period, the <a href="https://cointelegraph.com/news/jpex-scandal-taiwan-suspect-arrest">JPEX investment scam</a> in Hong Kong made for the largest single crypto fraud scheme, resulting in $194.3 million of stolen crypto.
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 Crypto amounts stolen via hacks and scams in 2023/24. Source: Crystal intelligence
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Crypto hacks and exploits remain one of the biggest hurdles impeding mainstream trust and adoption. <a href="https://cointelegraph.com/news/crypto-hacks-2024-private-key-leaks">Crypto hacks in 2024 could potentially top</a> 2023, as the first quarter of 2024 saw $542.7 million worth of stolen funds, a 42% increase compared to the same period in 2023.
Related: <a href="https://cointelegraph.com/news/uwu-lend-hack-20-million">UwU Lend hit by $20M crypto hack</a>
<h2 id="the-most-hacks-were-in-2023-but-2022-saw-the-biggest-loss-in-value">The most hacks were in 2023, but 2022 saw the biggest loss in value</h2>
While the highest number of crypto-related hacks was reported in 2023, the year 2022 is still known as the “deadliest year by value,” according to Crystal Intelligence.
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 <img src="https://s3.cointelegraph.com/uploads/2024-06/1f787693-1127-4989-9f30-e9e4fbdf67c4.png">
 <figcaption style="text-align: center;">
 Crypto hacks &amp; scams per year by USD value. Source: Crystal intelligence
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A total of 286 exploits resulted in over $2.3 billion worth of assets being stolen digital in 2022.
However, 2022 resulted in $4.2 billion worth of stolen digital assets, nearly double the amount in 2023. Yet, the number of incidents stood at 199, which is 30% less than the 286 hacks reported in 2023.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-06/9e9d1d4e-fde7-4e76-bc56-c1889f6a4abb.png" alt="" title="">
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 Crypto hacks and scams per year by number. Source: Crystal intelligence
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“Even with improved and enhanced monitoring and reporting mechanisms, illegal activity on&nbsp;the blockchain has continued to grow in 2023 and 2024,” according to the Crystal Intelligence report.<iframe width="100%" height="315" src="https://www.youtube.com/embed/kyNQ5YoFkWo" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
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 $3 billion stolen in hacks — Why are crypto crimes surging?. Source: <a href="https://www.youtube.com/watch?v=kyNQ5YoFkWo&amp;t=21s" target="_blank" rel="noopener nofollow">Cointelegraph</a>
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Related: <a href="https://cointelegraph.com/news/coingecko-confirms-email-provider-data-breach">CoinGecko confirms email provider data breach, over 23,000 phishing emails sent</a>
<h2 id="2023-more-funds-lost-to-security-breaches-than-defi-hacks">2023: More funds lost to security breaches than DeFi hacks</h2>
In 2023, there were 68 separate security breaches, resulting in attackers stealing over $1 billion worth of digital assets.
In contrast, <a href="https://cointelegraph.com/learn/defi-a-comprehensive-guide-to-decentralized-finance">decentralized finance (DeFi)</a> hacks only resulted in $835 million of stolen cryptocurrency in 2023. However, over 112 DeFi hacks were reported, suggesting that they are smaller in size compared to security breaches but occur more often.
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 <img src="https://s3.cointelegraph.com/uploads/2024-06/e6fa5552-bc83-4c6b-9e38-44eeb814f72f.png">
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 Top 10 DeFi hacks 2023/24. Source: Crystal Intelligence
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During the past two years, the Euler Finance hack represented the largest single DeFi hack, resulting in $197 million worth of stolen Ether tokens.
The 10 largest DeFi hacks in 2023 and 2024 accounted for nearly $579 million in stolen assets.
Magazine: <a href="https://cointelegraph.com/magazine/cailtlyn-jenner-token-scammer-sahil-arora-celebrity-network-leaked-price-list/">Caitlyn Jenner meme coin ‘mastermind’s’ celebrity price list leaked</a>

Crypto hacks soar to $19B in 13 years: Crystal Intelligence

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