Blockchain security firm PeckShield reported that over $3 billion was stolen through hacks and scams in crypto-related activities in 2024, marking a significant increase from the previous year. PeckShield’s January 9 post revealed that this surge included $400 million more than in 2023, translating to a roughly 15% rise. Notably, hacks were responsible for over 70% of the losses, while scams contributed 30%. Despite the monetary increase in thefts, the overall number of incidents decreased since 2022, suggesting a taper off in the frequency of hacks and scams by the end of 2024. Among the reported scams, phishing attempts emerged as particularly costly, facilitating over $1 billion in theft across 296 incidents. Security analysts highlight potential challenges in 2025 as developments in AI may lead to the evolution of phishing strategies. This trajectory in crypto-related illicit activities suggests a growing concern among users and regulators alike, with increasing institutional adoption further complicating the landscape.

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