Crypto Hack Losses Plummet 60% in December to $76M Amid Persistent Threats
Cryptocurrency losses from hacks and exploits saw a dramatic 60% decline in December, falling to approximately $76 million from November's $194.2 million, according to blockchain security firm PeckShield. The drop marks a rare respite after months of heightened attack activity across the sector.
A single address poisoning scam dominated December's losses, accounting for $50 million of the total. The attack exploited visual similarities between wallet addresses, tricking users into sending funds to fraudulent destinations. Such scams remain a persistent threat, leveraging human error rather than technical vulnerabilities.
PeckShield identified 26 major incidents during the month, with key leaks and browser wallet exploits continuing to pose significant risks. The security firm's data underscores the evolving nature of crypto threats, where social engineering tactics increasingly complement traditional cyberattacks.
