The amount of cryptocurrency stolen in hacks globally more than doubled in the first six months of 2024 from a year earlier, driven by a small number of large attacks and rising crypto prices, blockchain researchers TRM Labs said on Friday.

The amount of cryptocurrency stolen through hacks and network exploits more than doubled to $1.38 billion in the first six months of the year, according to the blockchain intelligence firm TRM.

An amount of $1.38 billion in cryptocurrency was embezzled by hackers up to June 24, 2024, according to weekly research from blockchain researchers TRM Labs. A figure more than double what had already been stolen at $657 million in the same period in 2023.