The first half of 2024 saw hackers targeting cryptocurrency abscond with $1.38 billion, TRM Labs recently found. That total marked a 110% increase from how much they swiped during 2023’s first half.
The first half of 2024 saw hackers targeting cryptocurrency abscond with $1.38 billion, TRM Labs recently found. That total marked a 110% increase from how much they swiped during 2023’s first half, according to the blockchain intelligence company. In the first six months of last year, it was $657 million. TRM Labs said in its analysis that "higher average token prices" probably played a part in the observed spike in stolen cryptocurrency.
Cryptocurrency users continue to face the threat of theft "partly because this is a relatively immature technology," according to Tom Robinson of Elliptic. "Hackers have found flaws in the smart contracts used in a number of services, which have then been exploited," he explained. "However, cryptocurrencies can be traced – investigators can ‘follow the money’ in some circumstances and retrieve stolen assets.
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