Hacks and scams stole $3B from crypto activities in 2024 — PeckShield

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As an analyst, I’ve recently uncovered some alarming figures from PeckShield’s latest report: In 2024, cybercriminals managed to swipe over $3 billion through crypto-related activities, marking a substantial jump compared to the preceding year.

According to a post on Jan. 9th by X, PeckShield shared findings from their 2024 report indicating that crypto thieves and swindlers managed to steal approximately $400 million more in the previous 12 months compared to 2023 – representing an increase of around 15%. Despite this rise, PeckShield’s data revealed that both the number of hacks and scams had been dropping since 2022 and reached a noticeable decline by the end of 2024.

According to PeckShieldAlert, the total amount for this year [2024] is approximately $3 billion. This sum encompasses around $2.15 billion taken from hacked cryptocurrencies and an additional $834.5 million taken from scams. Interestingly, nearly half a billion dollars, or about $488.5 million, of the stolen cryptos have been successfully recovered.

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2024 reports show that security companies like PeckShield have been exposing illegal cryptocurrency activities. According to Chainalysis, hackers made off with approximately $2.2 billion worth of crypto over the past year. In the initial three months of 2024, digital assets from Decentralized Finance (DeFi) platforms represented the largest percentage of stolen virtual assets.

Concerns on AI and ‘evolving’ scams in 2025

In the realm of fraud related to cryptocurrencies, CertiK identified phishing schemes as the “most financially damaging method” back in January of 2024. These malicious individuals managed to swipe over $1 billion worth of digital assets across 296 separate incidents involving phishing.

2025 may bring difficulties for crypto users as they navigate the rise of scammers and hackers exploiting the expanding industry due to institutional adoption and increased regulatory acceptance. The advancement of AI technology is expected to refine phishing strategies, as suggested by a representative from CertiK.

It appears that Chainalysis, PeckShield, and CertiK concur that crypto-related illicit activities increased from 2023 to 2024. Interestingly, data indicates a drop in both the frequency of incidents and the value of digital assets stolen compared to the figures recorded in 2022. This decrease occurred amidst market downturns and intensified regulatory actions worldwide.

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2025-01-09 19:25