Crypto Scams Surge to $9.3B in Losses in 2024: North Korean Hackers Drive Growth

A new report reveals that cryptocurrency scams caused a staggering $9.3 billion in losses during 2024, marking a significant increase of 66% compared to the previous year. The surge is attributed to organized crime groups, particularly North Korean hackers who are responsible for a substantial portion of thefts, accounting for between 35% and 61%. This trend has had a major impact on major crypto platforms like Bitcoin and Ethereum, as well as DeFi protocols. Experts highlight the vulnerability these scams pose to global markets and the need for improved security measures.