Hack-driven crypto laundering triples in 2024 to hit $1.3b, data shows
Hack-related crypto laundering reached $1.3 billion in 2024, marking a 280% increase from 2023, PeckShield reveals.
Crypto laundering tied to hacks reached $1.3 billion in 2024, representing representing nearly a threefold increase compared to $342 million in 2023, according to data revealed by PeckShield. In an X post on Jan. 13, the blockchain security firm said that the rise in laundered funds is “possibly driven by rising crypto prices” as Bitcoin (BTC) price more than doubled since early 2024.
The report focused on hack losses exceeding $1 million. Chain hopping, a process where coins laundered between different blockchains, moved $452 million, while coin mixing accounted for $468 million, the data…
