According to a report by analytical platform CertiK, 2024 saw a record in phishing attack losses, surpassing $1 billion. A total of 296 users fell victim, and three incidents alone each exceeded $100 million in damages.
Phishing Attacks: The Scale of the Problem
CertiK states that phishing was the costliest type of attack, accounting for nearly half of all losses this year. Phishing incidents were highly sophisticated and often targeted specific victims, resulting in an average loss of $3.1 million per incident.
The most frequent targets were Ethereum, Bitcoin, and Tron. Ethereum led with 403 reported incidents totaling $748.7 million in losses.
Key Statistics for 2024
- Total losses: $2.36 billion from 760 blockchain incidents
- Growth in losses: +31.61% compared to 2023
- Average loss: $3.1 million per incident; median: $150,925
- Most costly month: May, with $444.4 million lost in 63 incidents
- Most vulnerable quarter: Q3, with $753.3 million stolen in 157 incidents
- Top attack method: Phishing at $1.05 billion in losses from 296 incidents
- Key compromises: $855.4 million stolen in 65 incidents
- Multichain attacks: $435 million in losses across 39 incidents
Blockchain Cybersecurity: Efforts by T3 FCU
Alongside the surge in criminal activity, the T3 FCU (formed by TRON, Tether, and TRM Labs) successfully froze more than $100 million in illicit assets. Established in August 2024, T3 FCU is an example of a successful public–private partnership in the blockchain sector.
By analyzing millions of transactions worldwide, T3 FCU identified money-laundering schemes, investment scams, and terrorism financing efforts. The initiative reportedly thwarted attempts to use USDT on the TRON network for criminal purposes.
Justin Sun, TRON founder, emphasized the importance of the group’s achievements:
“Now criminals have 100 million reasons to think twice before using TRON.”
Paolo Ardoino, CEO of Tether, underscored the value of working with law enforcement:
“Collaboration with authorities helps set new standards of transparency and security in the digital asset space.”
Looking Ahead
The year 2024 highlighted the urgent need to protect the crypto ecosystem from threats. Experts predict that in 2025, efforts to strengthen security will continue. A combination of technological innovations—such as more secure wallets—and closer cooperation between blockchain projects and law enforcement agencies may significantly reduce the number of incidents.
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- ZachXBT: Hacker Stole $500K via Phishing Attacks on X
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