Threat factors steel $ 2.2 billion of cryptocurrency platforms in 2024, with the majority (61%) of illegal funds attributed to North Korean hackers, according to chainalysis.
The Blockchain Analytics Company has been analyzing cryptocurrency flows for several years and said that 2024 is the fifth year in the past decade that hackers have stolen more than $ 1 billion from crypto companies.
The 2024 figure represents an increase of 21% on an annual basis (yo -y), in which individual incidents also rise, from 282 in 2023 to 303 in 2024.
However, the intensity of attacks was deposited in the second half of the year, possibly for geopolitical reasons. The cumulative value stolen between January and July 2024 reached $ 1.58 billion, which represents 84% in the same period in 2023 and, if coupled in the second half of the year, would have led to losses of more than $ 3 billion.
Read more about North -Korean Crypto -Robberies: North Korean hackers stolen $ 600 million in Crypto in 2023
Chain analysis suggested that the delay of attacks could result from the meeting of Vladimir Putin with Kim Jong-un in June, where it was thought that a deal was concluded to release millions of dollars to North Korean assets that were previously frozen in compliance with the sanctions of the UN safety and potentially.
The report noted that the value of funds stolen by North Korean hackers fell 54% after the top.
Northern Korean attacks, however, are generally increasingly becoming ahead.
“In particular, attacks between $ 50 and $ 100 million, and those above $ 100 million, took place much more often in 2024 than in 2023, which suggests that the DVK will get better and faster with solid exploits,” the report revealed.
“This is in stark contrast to the previous two years, in which the operations more often delivered every win below $ 50 million.”
This increase is unfortunately also matched by “a growing density” of hacks that yielded lower quantities of approximately $ 10,000 in value.
“Some of these events seem to be linked to North -Korean IT employees, who have increasingly infilmed crypto and web3 companies and endanger their networks, activities and integrity,” warned Chainalysis.
“These employees often use advanced tactics, techniques and procedures (TTPs), such as false identities, external hiring intermediaries and the manipulation of remote working options for access.”
Build stronger defenses
Chainalysis insisted on companies to check potential employees more rigorously and improve private key hygiene to protect their assets.
More generally, it advised “Initiatives for sharing data, advanced tracing tools and targeted training” to help crypto companies to build resilience and better identify and neutralize threats.
“Moreover, while crypto -controlling frameworks will continue to develop, the control of platform security and protection of customers will probably intensify. The best practices of industry must keep pace with these changes, whereby both prevention and accountability are guaranteed,” concluded it.
“By promoting stronger partnerships with law enforcement and equipping teams with the means and expertise to respond quickly, the crypto industry can strengthen its defense against theft.”