Reports Over 19 Billion Stolen by Crypto Hackers Since 2011

Key Points
Since 2011, hackers have stolen over $19 billion in digital assets, with DeFi platforms being a major target.
In 2023, a record $835 million was taken from DeFi hacks, with the largest single hack netting $197 million.
The first quarter of 2024 has already surpassed the total stolen in 2023, highlighting the ongoing threat.
Think your cryptocurrency is secure? Think again.
Crystal Intelligence, based in Dublin, reveals that hackers have been targeting cryptocurrencies and digital assets relentlessly, resulting in millions of dollars being stolen since 2011.
Yes, you heard that correctly! Crystal Intelligence reports that there have been approximately 785 instances of crypto hacks and exploits, leading to a total of $19 billion in stolen digital coins over the past 13 years. This significant loss underscores the persistent risk in the crypto market.
Memorable Hacks
Among the many security breaches, some have been particularly devastating. The Plus Token scam in May 2019 remains the largest single crypto theft, with attackers making off with $2.9 billion in Bitcoin and Ethereum.
Earlier in 2024, the biggest cyber attack on PlayDapp in February resulted in a $290 million loss, making it the second-largest crypto hack in the last two years.
The JPEX Investment Scam
Fraud has also had a significant impact on the crypto world. The JPEX investment scam in Hong Kong saw $194.3 million in crypto stolen, making it the largest single crypto fraud scheme in recent years.
A Year to Remember: The Losses of 2022
The report shows that 2022 was the most damaging year in terms of value, with 199 exploits leading to over $4.2 billion in stolen digital assets. This figure is notably higher than the losses seen in 2023.
Despite improvements in monitoring and reporting, illicit activities on the blockchain have continued to rise in 2023 and 2024.
DeFi in the Crosshairs?
DeFi platforms, especially those in decentralized finance ecosystems, have been hit hard. In 2023, there were 112 DeFi hacks, resulting in $835 million in stolen cryptocurrencies. Security breaches have been even more costly, with 68 cases resulting in over $1 billion in digital assets being taken.
A Shoutout to Euler Finance!
Euler Finance was the target of the largest hack on a DeFi protocol in 2023 and 2024, with hackers making off with $197 million worth of Ether tokens. The top ten DeFi hacks during this period totaled $579 million in digital currency.
The Ongoing Battle Against Crypto Crime
In the first quarter of 2024 alone, $542.7 million in digital assets was stolen, indicating an increase compared to the previous year, 2023. This trend suggests the possibility of more crypto hacks in the near future.
Crypto-criminals remain active and dangerous. According to Crystal Intelligence, the fight against cybercrime is far from over. As decentralized financial markets expand, the frequency and severity of attacks are also on the rise, emphasizing the need for enhanced security measures and proactive threat detection in the crypto market.
Additional Reading:
Discover How Hackers Exploit High-Profile Accounts: An Examination of a Recent Supply Chain Email Breach
As DeFi hacks increase, what can investors do to safeguard their assets? Check out our guide:
A Comprehensive Manual for Securing Your Crypto
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