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Cybercrime in the crypto sector has soared in the first half of 2024, with hackers stealing nearly $1.38 billion, nearly doubling last year’s figures. 
Cybercriminals have pilfered a staggering $1.38 billion from crypto investors in the first half of 2024, nearly doubling the $657 million stolen during the same period in 2023, according to data compiled by blockchain forensic firm <a href="https://crypto.news/tag/trm-labs/" target="_blank" rel="noreferrer noopener">TRM Labs</a>. 
Consistent with 2023 trends, a handful of major breaches have dominated this year’s thefts, with the top five incidents accounting for 70% of the total haul, analysts say. The most significant attack to date occurred in May when DMM Bitcoin, a Japanese crypto exchange, <a href="https://crypto.news/dmm-bitcoin-to-raise-320m-to-pay-back-victims-of-recent-hack/" target="_blank" rel="noreferrer noopener">suffered a hacker attack</a>, losing over 4,500 BTC valued at over $300 million at the time. 
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 <img loading="lazy" decoding="async" width="1024" height="536" src="https://crypto.news/app/uploads/2024/07/er98te8r-1024x536.png" alt="Crypto heists near $1.4b in first half of 2024: TRM Labs - 27"> 
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 Total hacks and exploits | Source: TRM Labs
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 You might also like: <a href="https://crypto.news/report-hackers-stole-176-2m-in-crypto-in-june/"> Report: Hackers stole $176.2m in crypto in June </a> 
While the nature of the hack remains unclear, TRM Labs attributes “stolen private keys or address poisoning” to potential attack vectors. “Private key and seed phrase compromises remain a top attack vector in 2024, alongside smart contract exploits and flash loan attacks,” the analysts say. 
The New York-headquartered firm notes that the first six months of 2024 have seen higher theft volumes each month than the corresponding months in 2023, “with the median hack 150% larger.” Despite this surge, the analysts say thefts from hacks and exploits are a “third below the same period in 2022, which remains a record year.” 
In the meantime, data from Scam Sniffer <a href="https://crypto.news/crypto-scammers-stole-nearly-60m-from-20-victims-in-h1-2024-data-shows/" target="_blank" rel="noreferrer noopener">indicates</a> that phishing scammers made over $300 million across EVM chains by targeting around 260,000 victims, marking a 6.44% increase compared to 2023. According to researchers, around $58 million worth of crypto was drained from 20 victims alone, with one victim losing $11 million, becoming the second-largest theft victim in crypto history. 
 Read more: <a href="https://crypto.news/coinstats-ceo-says-hackers-stole-2m-by-attacking-its-aws-infrastructure/"> CoinStats CEO says hackers stole $2m by attacking its AWS infrastructure </a>

Crypto heists near $1.4b in first half of 2024: TRM Labs

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