December’s crypto losses from hacks were lowest in 2024: PeckShield

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In December 2024, more than 25 hacks in the crypto industry led to approximately $24.7 million in losses, marking a 71% decline compared to November.

December 2024 witnessed over 25 crypto hacks, resulting in a total loss of $24.69 million, according to data from blockchain security firm PeckShield. The figure marks more than a 70% drop compared to November’s losses, the firm revealed in an X post.

#PeckShieldAlert December 2024 saw 25+ hacks in the crypto space, resulting in ~$24.7 million in losses—a 71% decrease compared to last month. #Top5 Hacks:
–#LastPass: $12.38 million
–#Yeifinance: $2.2 million
–#GemPad: $2.2 million
–#MEMECoin Drainer: A victim was drained… pic.twitter.com/p1Y8vjLMfp

— PeckShieldAlert (@PeckShieldAlert) January 1, 2025

The top incident involved LastPass, which accounted for $12.38 million in losses. Other victims included Yeti Finance, GemPad, and FEG, each losing around $2.2 million, and Victim, which suffered $1.3 million in damages.

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The chart shows a huge decline in monthly losses, which peaked earlier in 2024, such as $574.65 million in April. According to the data, December’s losses turn out to be among the lowest in 2024.

Stolen funds were tracked to various flows. For instance, over 550 Ethereum (ETH) and significant amounts of Circle’s stablecoin (USDC) and Bitcoin (BTC) were moved through platforms like ChangeNOW. Other stolen amounts included 310 ETH and 520 USDC, traced to different wallets via the sanctioned mixer Tornado Cash.

Earlier reports from web3 security firm Hacken revealed that crypto hacks cost nearly $3 billion in 2024. While the overall losses were similar to 2023, attacks exploiting access control vulnerabilities saw a big jump, making up 78% of the total. These flaws hit a range of sectors, from decentralized finance and centralized exchanges to gaming and metaverse platforms, showing how attackers shifted their focus throughout the year.

Read more: Hacken calls 2023 crypto hacking dynamic ‘concerning’ as losses near $2b

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