Saturday, February 24, 2024

Hackers stole $2 billion in crypto in 2023, data reveals. Cryptured

Hackers stole billions of dollars’ worth of cryptocurrency for another year. However, according to crypto security firms, the trend is declining for the first time since 2020.

Based on dozens of cyberattacks and thefts this year, hackers stole over $2 billion in cryptocurrency, according to De.FI, the web3 security company that manages the REKT database. The website lists the greatest cryptocurrency attacks ever, ranging from the Ronin network breach in 2022—the largest event in history—where hackers stole over $600 million in cryptocurrency—to this year’s hack against Mixin Network, which brought in almost $200 million.

De.Fi stated in its analysis that “this amount, though dispersed across various incidents, underscores the persistent vulnerabilities and challenges within the DeFi ecosystem.” “Despite the fact that the prolonged bear market in the first half of the year somewhat stifled interest in the space, 2023 stood as a testament to both the ongoing vulnerabilities and the strides made in addressing them.”

TRM Labs, a blockchain intelligence company, earlier in December made public an estimate of the total amount of cryptocurrency that hackers have stolen this year. As of mid-December, the business reported that the total amounted to approximately $1.7 billion.

The attack against Euler Finance, in which hackers took about $200 million, is among the worst cryptocurrency thefts of the year. Other notable hacks include those against Multichain ($126 million), BonqDAO ($120 million), Poloniex ($114 million), and Atomic Wallet ($100 million), among hundreds of other targets.

A record-breaking $3.8 billion in cryptocurrency was purloined by cybercriminals, according to a report published by blockchain monitoring company Chainalysis last year. Of those, the Lazarus Group, a group of North Korean government hackers who are among the most active in the cryptocurrency space, took $1.7 billion in an attempt to finance the regime’s authorized nuclear weapons program.

In its analysis from the previous year, Chainalysis stated that “it isn’t a stretch to say that cryptocurrency hacking is a sizable chunk of the nation’s economy.”

According to Chainalysis, hackers stole $3.3 billion in 2021, the year prior.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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