Funds stolen in 2024 from crypto hackers rose in 2024, according to Chainalysis, with North Korea-linked cases reaching an all-time high.
In 2024, $2.2 billion in funds were stolen from hacking cryptocurrency platforms via 303 incidents, according to a report by blockchain analysis firm Chainalysis. This compares to $1.8 billion stolen through 282 incidents in 2023 and an all-time high of $3.7 billion in 2022.
The majority of theft was attributable to compromised private keys that access user accounts. Notable losses from theft include $305 million from Japanese crypto exchange DMM Bitcoin in May and $235 million from India’s WazirX in July.
DPRK-Afflated Activity
According to the report, crypto attacks related to the Democratic People’s Republic of Korea (DPRK) were becoming more frequent. Fund stolen from hacking linked to North Korea doubled to reach a record $1.3 billion this year while the number of incidents rose from 20 to 47.
«Hackers linked to North Korea have become notorious for their sophisticated and relentless tradecraft, often employing advanced malware, social engineering, and cryptocurrency theft to fund state-sponsored operations and circumvent international sanctions,» the report added.
«US and international officials have assessed that Pyongyang uses the crypto it steals to finance its weapons of mass destruction and ballistic missiles programs, endangering international security.»
