Cryptocurrency theft – increases from 3.1 in 2021 to 3.8 billion in 2022
In a new annual report, cryptocurrency fraud increased from $3.1 billion in 2021 to $3.8 billion in 2022
Hackers Prove the Easiest Way to Make a Crypto Fortune Is by Stealing It | PCMag
A new report reveals that hackers targeting cryptocurrency last year managed to steal a record $3.8 billion in digital coins, with North Korea being the biggest benefactor. As the South China Morning Post reports, a new report from blockchain analysis company Chainalysis Inc. reveals that 2022 was a record year for cryptocurrency theft. In 2021, $3.3 billion in crypto was stolen, but that increased to $3.8 billion last year. The majority of that ($3.1 billion) was taken by finding vulnerabilities in bridge services (used to connect different blockchains) that form part of the decentralized finance (DeFi) infrastructure cryptocurrency relies upon. It seems North Korea has a particular expertise in this sector, with hacking groups linked to the country’s government accounting for $1.7 billion of the total. For context, North Korea’s gross domestic product hovers around the $29 billion mark.