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International Business Times

Business

Marvie Basilan

Nearly $239M Lost So Far In 2024 From Crypto Private Key Hacks: CertiK

CertiK Crypto Chris Larsen Ripple Labs

Private key compromises are expected to continue driving major losses in the cryptocurrency industry this year. (Credit: Richard Patterson/flickr.com)

KEY POINTS

During Q1 2023, PKC losses were at $18.8 million, meaning Q1 2024 saw a jump of 1,160% in dollar value loss
Ripple Labs' Chris Larsen was the biggest target of PKC actors so far in 2024
PKCs are expected to 'highly likely' drive major losses in the crypto world this year

Private key leakages have had a devastating impact on the web3 ecosystem, with approximately $239 million worth of digital assets lost in the said breaches, a new report by blockchain security firm CertiK revealed over the weekend.

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