Asia Tech Wire (July 8) -- Global cryptocurrency theft losses doubled to $1.38 billion in the first half of this year, according to blockchain research firm TRMLabs.

A new report released by TRMLabs showed that global crypto theft surged in the first half of 2024, to an amount more than double that of the same period last year.

The report said this is largely due to a handful of large-scale attacks and rising cryptocurrency prices.

Hackers have stolen more than $1.38 billion worth of cryptocurrencies this year as of June 24, 2024, compared to just $657 million during the same period in 2023, according to the report.

On top of that, the average amount of a single crypto theft this year is 50% higher than the same period last year.