Global Cryptocurrency Theft Figures Released for 2024: Analysis Reveals Trends and Impact

North Korean Hackers Steal $1.34 Billion in Crypto in 2024, Chainalysis Reveals

A staggering report has emerged, revealing the sheer scale of cryptocurrency theft orchestrated by North Korea-linked hackers in 2024. According to a study conducted by Chainalysis, these cybercriminals stole a colossal $1.34 billion across 47 cases.

This alarming figure accounts for a whopping 61% of all reported cryptocurrency thefts in 2024, further solidifying the persistent threat posed by these North Korean hackers. The data also highlights the significant surge in crypto hacking incidents throughout the year, with an astonishing 84.4% increase compared to the same period in 2023.

An analysis of the statistics reveals that DeFi platforms and centralized services were primary targets for these cyber attacks, with decentralized finance (DeFi) platforms bearing the brunt of the losses during the first quarter of the year. However, as the report notes, there was a notable shift in focus towards centralized services in Q2 and Q3.

It is noteworthy that two significant breaches occurred this year, with Japanese exchange DMM Bitcoin losing a substantial $305 million (48 billion yen) and Indian exchange WazirX suffering a security breach leading to halted withdrawals in July. Both incidents were linked to North Korea-based hackers.

Cryptocurrency theft has become a recurring issue over the past decade, with more than $1 billion being stolen in four separate years. Notable instances include 2018’s $1.5 billion, 2021’s $3.3 billion, 2022’s $3.7 billion, and 2023’s $1.8 billion in stolen assets.

The study emphasizes the need for stronger security measures to be implemented across the industry to mitigate these risks.

Source: coinchapter.com