Crypto Losses Decline Sharply in December 2024
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The cryptocurrency industry saw a significant decline in losses from scams, exploits, and hacks in December 2024. Compared to $63.8 million in November and $115.8 million in October, December marked the least damaging month of the year with $28.6 million in recorded losses. According to blockchain security firm CertiK, exploits accounted for the majority of these losses, totaling $26.7 million. Notable incidents included a $2.1 million exploit on the decentralized finance (DeFi) platform GemPad and a $1 million loss due to an exploit on the token bridge of another DeFi project, FEG.
