Phishing and Private Key Theft Made Attackers Most Money in 2024

Among many illicit methods that thieves utilize to get their hands on others' cryptocurrency, phishing was the most successful one by far in 2024.

2024 saw a loss of $2.36 billion in total across 760 on-chain security incidents. This is a 31.61% increase compared to 2023.

A whopping $1.05 billion was lost to phishing attacks alone over the past year – nearly half of the total amount, according to the latest report by blockchain security firm CertiK.

The attackers committed the thefts over 296 separate incidents, which is 39% of the total number of attacks.

Additionally, only three of the nearly 300 incidents resulted in a $100 million loss.

Per the report, the number suggest that phishing attacks, on average, "typically lead to larger amounts stolen per incident than other vulnerabilities."

All four quarters of last year recorded high activity levels related to phishing attacks and private key theft. Still, Q2 saw the highest loss of $433.7 million in 67 phishing attacks.

Phishing is popular due to its simplicity and effectiveness, the report says. It is not so much about technological defenses as it is about human vulnerability.

Blockchain transactions make phishing "particularly devastating" as these are irreversible.

In 2024, hackers returned less than $213.33 million.

The numbers from 2024 are in, and the Web3 ecosystem faces significant challenges. Over $2.36B was stolen across 760 incidents, marking a 31.61% increase from the previous year.

Dive into the 2024 Hack3d Report to see the insights that shaped the year and what's next.Market News and Data brought to you by Benzinga APIs

© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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