- Since 2011, nearly $19 billion in cryptocurrency has been stolen across 785 incidents, including 220 security breaches, 345 DeFi hacks, and 220 fraud schemes.
- The largest theft on record occurred in 2019, with $2.9 billion stolen through the Plus Token Ponzi scheme.
- In the past two years, Ethereum has been the primary target for hacks, with losses totaling nearly $1.3 billion, followed by Binance Smart Chain (BSC), which faced 100 attacks amounting to over $186 million.
According to a Crystal Intelligence report, nearly $19 billion in cryptocurrency has been stolen since 2011, highlighting the ongoing struggle of the industry with increasing blockchain-related crime. The report identifies 785 incidents of crypto theft, including 220 security breaches, 345 hacks targeting decentralized finance (DeFi) platforms, and 220 fraud schemes.
The largest theft on record occurred in 2019, involving $2.9 billion linked to the Plus Token Ponzi scheme. Crypto crime has continued to rise since, with 2023 seeing a record 286 incidents totaling over $2.3 billion.
Despite advancements in monitoring and reporting, illegal activities on the blockchain have increased. In the past two years, Ethereum has been the primary target with 131 incidents amounting to nearly $1.3 billion, followed by Binance Smart Chain (BSC), which faced 100 attacks totaling over $186 million.
“Even with improved and enhanced monitoring and reporting mechanisms, illegal activity on the blockchain has continued to grow.”
Crystal Intelligence
The report accounted for all hacks up to March 2024. Subsequently, the Japanese crypto exchange DMM Bitcoin was hacked for $320 million. The company stated that it would raise capital to reimburse all affected users.
According to a statement on its website, all BTC held by users would be guaranteed through support from “group companies.” DMM Bitcoin, a subsidiary of DMM Financial, which is a unit of the DMM Group—a conglomerate founded in 1999 that earned 347.6 billion yen ($2.2 billion) in 2023—had promised to cover the losses.
