SEOUL : Last year was the worst on record for cryptocurrency heists, with hackers stealing as much as $3.8 billion, led by attackers linked to North Korea who netted more than ever before, a U.S.-based blockchain analytics firm said in a report on Wednesday.The report by Chainalysis found hacking activity
SEOUL : Last year was the worst on record for cryptocurrency heists, with hackers stealing as much as $3.8 billion, led by attackers linked to North Korea who netted more than ever before, a U.S.-based blockchain analytics firm said in a report on Wednesday.
The cryptocurrency market floundered in 2022, as risk appetite diminished and various crypto firms collapsed. Investors were left with large losses and regulators stepped up calls for more consumer protection. According to a panel of experts monitoring United Nations sanctions, North Korea has increasingly relied on hacking to fund its missile and nuclear weapons programmes, particularly as publicly declared trade dwindled under sanctions and COVID-19 lockdowns.
For the first time last year, U.S. law enforcement seized $30 million in stolen funds from North Korea-linked hackers.Targets in"decentralized finance" or DeFi, a thriving segment in the cryptocurrency sector, accounted for more than 82 per cent of the cryptocurrency stolen in 2022, the report said.
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