🌋 Crypto Exploit Losses Down to $24.7M — PeckShield
posted 2 Jan 2025
In December 2024, the crypto industry faced over 25 significant breaches, leading to losses totaling $24.7 million. According to PeckShield, this is a 71% drop compared to November 2024.
Top Crypto Hacks of December 2024
The biggest hit last month was taken by LastPass, with losses reaching $12.38 million. Other major incidents included:
- Yeifinance: $2.2 million stolen in a targeted attack.
- GemPad: Hackers exploited vulnerabilities, stealing $2.2 million.
- Memecoin-Drainer: A Solana-based project lost $2.2 million.
- FEGToken: $1.3 million was drained by hackers.
Trends in Crypto Hacks
The report shows that hackers remain focused on high-yield targets in the decentralized finance (DeFi) space.
Explore More: Crypto Scams and Hacks Hit Record Lows: CertiK Report
What the Charts Reveal
December recorded the smallest losses of 2024.
Crypto Exploits by Month, 2024. Source: Х
Nevertheless, the severity of incidents persists, as recovering stolen funds proves highly challenging. Flow analysis confirms that perpetrators increasingly utilize mixers and decentralized exchanges to obfuscate their activities.
Insights and Future Considerations
The PeckShield report reiterates the pressing need for enhanced security frameworks within the crypto ecosystem. With the increasing scale and complexity of cyberattacks, effective mitigation strategies will rely on coordinated efforts from developers, regulatory bodies, and cybersecurity experts.
The DeFi sector remains a prominent high-risk target, necessitating ongoing efforts to fortify protocols and protect user assets.
Insights and Future Considerations
The PeckShield report reiterates the pressing need for enhanced security frameworks within the crypto ecosystem. With the increasing scale and complexity of cyberattacks, effective mitigation strategies will rely on coordinated efforts from developers, regulatory bodies, and cybersecurity experts.
The DeFi sector remains a prominent high-risk target, necessitating ongoing efforts to fortify protocols and protect user assets.
