The year 2024 saw a record rise in cryptocurrency thefts, with a total of $2.2 billion stolen, with North Korean hackers taking 61% of it, or $1.34 billion, according to a Chainalysis report.
The value of money stolen by North Korean hackers has increased by 102.88% compared to 2023, going from $660.5 million to $1.34 billion across 47 major attacks.
These thefts have focused on large-scale attacks worth $50 to $100 million, with an increasing number of operations exceeding the $100 million mark.
Hackers used advanced tools, such as social engineering, malware, infiltrating Web 3 corporate networks and working remotely using fake identities.
One of the most prominent indictments was issued by the US Department of Justice against 14 North Koreans for stealing sensitive information, making illicit profits of $88 million.
However, despite the escalation of attacks in the first half of the year, with $1.58 billion stolen by July, the rate of thefts decreased by 53.73% in the second half.
This may reflect a shift in North Korea’s priorities toward strengthening its alliances with Russia and diverting resources to support the conflict in Ukraine.
While the data shows an overall decline, the risk of attacks associated with holiday seasons remains, which could alter the final estimates for 2024.
