According to data from CryptoPresales.com, crypto exploits represent almost 40% of all reported blockchain crime. Despite ongoing regulatory efforts and advancements in blockchain tracking technology, crypto-related crime remains a billion-dollar industry. In 2024, crypto criminals have stolen over $1.71 billion, nearly matching the previous year’s figure, with exploits continuing to dominate as the most common scam type.
Exploits are 15% more frequent than crypto hacks and twice as common as flash loans, with the high profitability and pseudonymity of digital currencies attracting a wide range of criminals. Over the past four years, the cumulative value of illicit transactions in the crypto market has consistently surpassed one billion dollars, with exploits accounting for the majority of this amount.
With hackers constantly finding new vulnerabilities in blockchain networks and smart contracts, crypto exploits have surged over the years. From hacking vulnerabilities to draining wallets, these attacks have become a constant threat to investors. The rapid crypto and DeFi adoption have only fueled their growth and created even more targets, often with billions of dollars at stake.
According to Comparitech data, so far, there have been 1,023 reported crypto heists in the blockchain world and exploits made up nearly 40% of them. At the time of writing, the total number of crypto exploits stood at over 400, much more than any other crypto crime.
In comparison, blockchain crime exploits are 15% more prevalent than the 275 reported crypto hacks, which rank as the second-most common criminal activity in the blockchain space. Flash loans, which take advantage of smart contract vulnerabilities or manipulate crypto prices, hold the third spot, accounting for 22% of all crypto heists. Other forms of blockchain crime such as price manipulations, third-party attacks, reentrancy attacks, and 51% attacks, contribute 3%, 2%, and 1.7% shares, respectively.
With crypto prices surging and millions of new users registering their wallets, the number of crypto-related crimes, including exploits, will continue rising. So far, these attacks have caused billions of dollars worth of damage, or $12.7 billion in total, to be more precise.
Shockingly, crypto criminals have stolen over two-thirds of that figure in the past three years, with 2022 and 2023 holding the record. If hackers had kept all the stolen cryptos and cashed them out today, they would have a fortune worth $50.7 billion.
