Crypto Exploits Account for 40% of All Reported Heists in Blockchain History

© Christoph Weih

Exploits Are 15% more Common than Crypto Hacks and Twice more than Flash Loans
The high profitability and pseudonymity of digital coins have attracted a broad spectrum of criminals over the years, helping the total value of money flowing through criminal crypto transactions to hit shocking heights. For the past four years, the cumulative value of illicit activities in the crypto space has regularly exceeded one billion dollars, and exploits have made most of that value.

With hackers constantly finding new vulnerabilities in blockchain networks and smart contracts, crypto exploits have surged over the years. From hacking vulnerabilities to draining wallets, these attacks have become a constant threat to investors. The rapid crypto and DeFi adoption have only fueled their growth and created even more targets, often with billions of dollars at stake.

According to Comparitech data, so far, there have been 1,023 reported crypto heists in the blockchain world and exploits made up nearly 40% of them. At the time of writing, the total number of crypto exploits stood at over 400, much more than any other crypto crime.
In comparison, that is 15% more than 275 reported crypto hacks, the second-most common criminal activity in the blockchain space. Flash loans, which exploit bugs in smart contracts or manipulate crypto prices, have ranked third with a 22% share in total crypto heists. Price manipulations, third-party attacks, reentrancy attacks, and 51% attacks follow with 3%, 2%, and 1.7% shares, respectively.

More than $12.7 Billion Stolen in Crypto Heists to Date
With crypto prices surging and millions of new users registering their wallets, the number of crypto-related crimes, including exploits, will continue rising. So far, these attacks have caused billions of dollars worth of damage, or $12.7 billion in total, to be more precise.
Shockingly, crypto criminals have stolen over two-thirds of that figure in the past three years, with 2022 and 2023 holding the record. If hackers had kept all the stolen cryptos and cashed them out today, they would have a fortune worth $50.7 billion.