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Alongside the rising adoption and value of crypto asset , thievery is also on the ascent . This yr , the entire time value of cryptocurrency stolen surge 21 % , get through a substantial $ 2.2 billion . And according toa Chainalysis reportreleased on Thursday , more than one-half of this amount was steal by North Korea - affiliated hacking groups .
Earlier this year , the United Nations Security Council saidthat North Korean drudge stole $ 3 billion in cryptocurrency assets between 2017 and 2023 . In 2024 , hackers linked to North Korea accounted for 61 % of the total amount stolen — worth $ 1.34 billion , in 47 character , per the report by Chainalysis .
Geopolitics in the picture
The report highlighted that most crypto hacks pass between January and July this twelvemonth , but the amount stolen had already exceeded $ 1.58 billion , around 84.4 % higher than the same period in 2023 .
The amount of crypto plus stolen by North Korea - linked hacker drop by 53.73 % after the June summit , per Chainalysis . North Korea , which has increase its cooperation with Russia , might have switched up its cybercrime tactics , the news report enounce .
Victims need stronger security
Crypto hacking preserve to pose a constant terror , with over a billion dollars ’ Charles Frederick Worth of crypto being hack in four separate geezerhood within the past decade — 2018 ( $ 1.5 billion ) , 2021 ( $ 3.3 billion ) , 2022 ( $ 3.7 billion ) , and 2023 ( $ 1.8 billion ) .
Decentralized finance ( DeFi ) platforms thatdon’t apply proper security department practiceshave been the master targets of cryptocurrency hack in the last three eld , and accounted for the highest amount of steal assets in Q1 2024 . However , between Q2 and Q3 2024 , centralized service of process were the main target of attack .
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A few notable cases of centralized Service that were attacked in 2024 includeDMM Bitcoin , a Nipponese crypto exchangethat lost $ 305 million ( 48 billion yen ) in bitcoin , andWazirX , an Indian crypto interchange , which arrest withdrawal in Julyafter a security measures breach by North Korea - linked hack .
