Crypto-related Losses Declined to $29M Last Month
In December 2024, the amount of money lost to hacks, scams, and exploits in the cryptocurrency market saw a significant decrease, hitting its lowest point of the year. According to reports from blockchain security firms CertiK and PeckShield, the total losses for the month amounted to $29 million.
CertiK reported losses of $28.6 million, a significant drop from November’s $63.8 million and October’s $115.8 million. Exploits were responsible for the majority of the losses, totaling $26.7 million.
Two notable incidents were the $2.1 million exploit of DeFi platform GemPad and a $1 million loss from the FEG token bridge exploit. The latter involved hackers exploiting a vulnerability in the cross-chain message verification process to drain tokens from the bridge contract without depositing them in the source chain.
On the other hand, PeckShield recorded $24.7 million in losses for the month, marking a 71% decrease from November. The biggest incident reported by PeckShield was the breach of password management service LastPass on December 16 and 17.
