Since 2022, hacks were the main reason behind cryptocurrency losses. 2021 was the exception during this time period, when fraud led to the highest volume of funds lost. This is according to data from web3 crowdsourced security platform Immunefi. While the source does not clearly state how it estimated its figures, it claims that over 60 percent of all cryptocurrency losses between 2021 and 2024 can be attributed to hacks.
Distribution of cryptocurrency theft worldwide, based on whether they stem from hacks or from fraud, from 2021 to 2024
(in million U.S. dollars)
The source adds it numbers come from publicly available data and news reports, which it tried to review, validate, and classify. An inclusion of such an incident in this dataset does not necessarily mean such an event did actually occur.
It also adds that for its "fraud" category, the source only considered so-called "rug pulls". Rug pulls create an image of false credibility with the idea of attracting enough outside capital through token sales or other means, with the end goal of stealing and disappearing with the acquired capital.
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Imunnefi_ Immuni Software Pte. (August 31, 2024). Distribution of cryptocurrency theft worldwide, based on whether they stem from hacks or from fraud, from 2021 to 2024 (in million U.S. dollars) [Graph]. In Statista. Retrieved November 13, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1498083/cryptocurrency-losses-by-type/
Imunnefi_ Immuni Software Pte. "Distribution of cryptocurrency theft worldwide, based on whether they stem from hacks or from fraud, from 2021 to 2024 (in million U.S. dollars)." Chart. August 31, 2024. Statista. Accessed November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1498083/cryptocurrency-losses-by-type/
Imunnefi_ Immuni Software Pte. (2024). Distribution of cryptocurrency theft worldwide, based on whether they stem from hacks or from fraud, from 2021 to 2024 (in million U.S. dollars). Statista. Statista Inc.. Accessed: November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1498083/cryptocurrency-losses-by-type/
Imunnefi_ Immuni Software Pte. "Distribution of Cryptocurrency Theft Worldwide, Based on Whether They Stem from Hacks or from Fraud, from 2021 to 2024 (in Million U.S. Dollars)." Statista, Statista Inc., 31 Aug 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1498083/cryptocurrency-losses-by-type/
Imunnefi_ Immuni Software Pte, Distribution of cryptocurrency theft worldwide, based on whether they stem from hacks or from fraud, from 2021 to 2024 (in million U.S. dollars) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1498083/cryptocurrency-losses-by-type/ (last visited November 13, 2024)
Distribution of cryptocurrency theft worldwide, based on whether they stem from hacks or from fraud, from 2021 to 2024 (in million U.S. dollars) [Graph], Imunnefi_ Immuni Software Pte, August 31, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1498083/cryptocurrency-losses-by-type/
