CandleFocus

$2bn was lost to crypto crimes in H1 2024 but investor popularity surged

Author: Content Editor
In the first half of 2024, the crypto market lost $2 billion to crimes such as hacking and phishing. Private key exploits accounted for half of the losses, while scams and phishing attacks were also major contributors. Despite these risks, the popularity of cryptocurrencies has continued to grow. Global crypto ownership is estimated to be at an average of 6.8% in 2024, and the number of cryptocurrency investors has jumped by 24.34% from 2023 to 2024. Bitcoin ETFs have played a role in attracting new investors, with 21% of non-owners saying that Bitcoin ETFs make them more likely to invest in crypto. Bitcoin millionaires have also seen significant growth, with 85,400 Bitcoin millionaires recorded in August 2024, a 111% increase from the previous year. The total market value of crypto has increased by 89% to $2.3 trillion, largely driven by Bitcoin reaching an all-time high of $73K in March 2024. Market volatility has also led to increased use of stablecoins, with Tether being the largest player in the stablecoin market. Despite the risks, the crypto market has experienced price growth and increased adoption in 2024.

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