Crypto hacks top $17B as key theft rises

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Crypto hacks top $17B as key theft rises
Crypto hacks top $17B as key theft rises
Mahathir Bayena
Written by Mahathir Bayena
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Data from DefiLlama shows hackers have stolen more than $17 billion across 518 crypto-related incidents over the past decade, with private key compromises emerging as a major driver.

The data indicates that 22.3% of incidents involved brute-force private key attacks, 18.2% came from unknown key compromise methods, and 10% stemmed from phishing targeting multi-signature wallets.

The findings highlight a shift in attack patterns away from smart contract vulnerabilities toward weaknesses in wallet security, infrastructure, and user behaviour.

The trend follows a recent $290 million exploit involving a restaked Ether bridge linked to Kelp DAO, underscoring ongoing risks in decentralised finance systems.

According to GSR, more than $600 million has been stolen from DeFi protocols in the past 60 days, with major incidents tied to bridge and exchange exploits.

Cybersecurity firms warn that advances in artificial intelligence and malware are making phishing and social engineering attacks easier to scale, lowering barriers for attackers.

Despite some improvement in phishing awareness, the rise of “hacking-as-a-service” tools continues to expand the threat landscape, increasing risks for crypto users and platforms.

At the time of reporting, Ethereum price was $2,337.06.

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