A total of $2.2 billion (about £1.76 billion) of cryptocurrencies have been stolen this year, with more than half of that stolen by North Korean hackers, according to a new study.
Hackers linked to the closed state stole $1.3 billion in digital currency, more than double last year, according to research firm Chainalysis.
The report said some of the thefts appear to be related to North Korean hackers posing as remote IT workers to break into cryptocurrency and other technology companies.
This comes after the price of Bitcoin has more than doubled this year as US President-elect Donald Trump is expected to be more crypto-friendly than his predecessor Joe Biden. is.
Overall, the amount of cryptocurrencies stolen by hackers in 2024 increased by 21% from last year, but was still below levels recorded in 2021 and 2022, the report said.
“The rise in crypto theft in 2024 highlights the need for the industry to address an increasingly complex and evolving threat landscape.”
The group said the majority of cryptocurrencies stolen this year were due to compromises of private keys used to control access to users’ assets on crypto platforms.
“Given that centralized exchanges control large amounts of user funds, the impact of private key compromise could be devastating,” the study added.
This year’s most significant incidents include the theft of $300 million worth of Bitcoin from Japanese cryptocurrency exchange DMM Bitcoin and the theft of nearly $235 million from India-based cryptocurrency exchange WazirX. This includes losses.
The US government has said the North Korean regime is resorting to cryptocurrency theft and other cybercrimes to circumvent international sanctions and raise funds.
A federal court in St. Louis last week indicted 14 North Koreans on charges of participating in a long-running conspiracy to extort money from American companies and funnel money to North Korea’s weapons program.
The US State Department also announced a reward of up to $5 million to anyone who can provide detailed information about the alleged plot.
