Crypto Hack And Scam Losses Drop To $29 Million In December – A Welcome Relief?
The crypto community continues to reel from losses due to scams and hacks. According to Chainalysis data, funds stolen from crypto platforms increased by 21% from last year to $2.2 billion. And for the fourth straight year, losses from hacking and crypto scams exceeded $1 billion. While hacking and crypto scams remain a problem for […]
The crypto community continues to reel from losses due to scams and hacks. According to Chainalysis data, funds stolen from crypto platforms increased by 21% from last year to $2.2 billion.
And for the fourth straight year, losses from hacking and crypto scams exceeded $1 billion. While hacking and crypto scams remain a problem for investors, retailers, and the community, at least one development is worth everyone’s attention.
According to PeckShield and Certik, December’s hacking and scam losses only hit $29 million, the lowest in 2024. Reports and analysis from market commentators suggest that scams and hacking incidents slowed down in the last quarter of the year, with December registering the smallest amount of losses.
December’s Losses Lowest This Year
In a Twitter/X post on December 31st, Certik announced that the industry lost $28.6 million to hacks, exploits, and scams in December, compared to $115.8 million in October and another $63.8 million in November. The security firm shared a chart to illustrate the reasons for these losses.
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