North Korea-linked Hackers Steal $430 Million from Decentralized Finance
In 2023, North Korea-affiliated hacking groups saw a surge in attempted attacks on decentralized finance (defi) platforms, as well as centralized services like exchanges. According to a report by Chainalysis, two hacking groups, Kimsuky and Lazarus Group, successfully carried out 20 attacks, resulting in the theft of approximately $1 billion worth of cryptocurrency. This marks a 41.7% decrease in stolen funds compared to the previous year.
Decentralized Finance and Centralized Services Fall Victim
The hacking groups made around $428.8 million by targeting defi protocols, while centralized services suffered losses of $150 million. Exchanges were hit the hardest, with a staggering $330.9 million stolen, followed by wallet providers who lost $127 million.
Overall Decrease in Stolen Funds
In total, there was a significant 54.3% decrease in stolen funds in 2023 compared to the previous year. The total value of stolen funds amounted to $1.7 billion, down from $3.1 billion in 2022.
Decline in Defi Hacking
The decline in stolen funds can be attributed to a decrease in defi hacking incidents. In 2023, hackers only managed to steal $1.1 billion from smart contracts, marking a 63.7% year-over-year decrease in stolen funds from decentralized finance.
Hot Take: Decrease in Illicit Crypto Activities
In addition to stolen funds, illicit crypto activities also experienced a decline in value. In 2023, the sum received through illicit operations amounted to $24.2 billion, reflecting a nearly 39% decrease compared to the previous year’s losses of $39.6 billion.
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