Danger, Crypto Theft Doubles in Semester I-2024, Reaches USD 1.38 Billion

Liputan6.com, Jakarta A blockchain researcher report noted that there was a two-fold increase in the number of crypto assets stolen in the first half of 2024. The figure even reached USD 1.38 billion.

Blockchain researcher TRM Labs released a report noting attacks in the first 6 months of 2024. The large number was also contributed by the increase in the value of crypto in recent times.

“Hackers have stolen more than USD 1.38 billion worth of crypto as of June 24, 2024, compared to USD 657 million in the same period in 2023,” TRM Labs said in its report, citing Yahol Finance, Sunday (7/7/2024).

TRM Labs recorded average thefts one and a half times greater than the previous year, the report said.

While we haven't seen a fundamental shift in the security of the cryptocurrency ecosystem, we have seen a significant increase in the value of various tokens – from bitcoin to ETH (ether) and Solana – compared to the same time last year,” said Ari Redbord, Global Head of Policy at TRM Labs.

Ari Redhood says this indicates cybercriminals are more motivated to attack crypto services, and may steal more when they do.

Crypto prices have generally recovered from their lows in late 2022 following the collapse of Sam Bankman’s fried crypto exchange FTX. Bitcoin hit an all-time high of $73,803.25 in March this year.