As crypto assets increase in popularity and value, theft is also on the rise. This year, the total amount of stolen cryptocurrencies has surged by 21% to reach a whopping $2.2 billion. And more than half of that amount was stolen by a North Korean-linked hacker group, according to a Chainalysis report released Thursday.
Earlier this year, the United Nations Security Council announced that North Korean hackers stole $3 billion in crypto assets between 2017 and 2023. In 2024, hackers linked to North Korea accounted for 61% of the total stolen, with 47 cases worth $1.34 billion. , according to a report by Chainalysis.
Image credit: Chainalysis
See geopolitics in photos
The report found that while most of the cryptocurrency hacks occurred between January and July this year, the amount stolen has already exceeded $1.58 billion, about 84.4% compared to the same period in 2023. He emphasized that it is increasing.
However, since July, hacking incidents have become much less frequent, possibly due to geopolitics. Chainalysis attributed this to the alliance between North Korea and Russia that emerged after Russian President Vladimir Putin's meeting with North Korean leader Kim Jong Un in June.
According to Chainalysis, the amount of crypto assets stolen by North Korea-related hackers decreased by 53.73% after the June summit. North Korea, which is increasing its cooperation with Russia, may have shifted its cybercrime tactics, the report said.
Image credit: Chainalysis
Victims need stronger security
Cryptocurrency hacking continues to pose an ongoing threat, with 2018 ($1.5 billion), 2021 ($3.3 billion), 2022 ($3.7 billion), and 2023 ($1.8 billion) of the past 10 years. More than $1 billion worth of cryptocurrencies were hacked in four years. billion).
Decentralized finance (DeFi) platforms that do not implement proper security practices have been the main targets of crypto hacks over the past three years, accounting for the largest amount of stolen assets in Q1 2024. Services were the main target of the attack.
Notable examples of centralized services attacked in 2024 include Japanese cryptocurrency exchange DMM Bitcoin, which lost $305 million (48 billion yen) in Bitcoin, and DMM Bitcoin, which lost $305 million (48 billion yen) in Bitcoin, and Examples include the Indian virtual currency exchange WazirX, which suspended withdrawals in 2017. North Korea-related hacker.