In the first two months of 2024, there has been an increase in the number of hacks within the crypto community. As reported extensively by Bitcoinist, hackers and fraudsters have been focusing on prominent figures and projects in the cryptocurrency industry. PeckShield, a security-focused crypto investigator, reported that in February there was a more than 23% increase in the total amount of stolen cryptocurrencies from these attacks compared to the previous month. A recent study also shows that more than half of illegal cryptocurrency transactions are associated with terrorist groups and entities under sanctions. There were more than 2248 cyber attacks on cryptocurrency in February. PeckShield, a blockchain investigator, announced a significant month-over-month rise in the total amount of stolen funds on a post on X platform. In crypto heists in February, hackers made off with approximately $22.023 billion, compared to $2.342 billion stolen in January according to a previous report from PeckShield. This indicates that, when compared, there was a 225% rise in the overall amount stolen last month. However, there was a decrease of 1.83% in the number of individual attacks in 2022 compared to January. In January, there were a total of 21.8 hacks, with the last one being on the final day and targeting Ripple co-founder Chris Larsen. The theft from Larsen’s accounts alone made up 261% of the overall stolen amount that month. Likewise, the PlayDapp hack in early February made up about 2802% of the total stolen funds that month. The report indicates that only a small fraction of the stolen funds, specifically 1.8%, have been recovered, totaling just $6.7 million out of the $360 million taken.