Crypto Hacks Double to $1.6 Billion as Prices Jump, Report Shows

The value of crypto hacks almost doubled to $1.6 billion in the first seven months of 2024, inflated by a jump in digital-asset prices, according to Chainalysis Inc.

While the value of funds stolen has surged, the number of hacks rose only marginally to 149 so far this year, up from 145 in the corresponding period of 2023, according a report published by the blockchain analytics firm on Thursday.

“Many crypto asset prices have increased significantly in 2024 and a large part of the growth in value stolen is likely due to that price appreciation,” said Eric Jardine, cybercrimes research …