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The decentralized exchange #HyperLiquid saw a record outflow of $60 million in $USDC , with speculation about #NorthKorean hackers testing the platform's vulnerabilities. This event underscores #security concerns which might affect #trust in decentralized platforms.
#NorthKorean hackers stole $1.34 billion in cryptocurrency through 47 cyberattacks in 2024, accounting for 61% of all stolen funds that year, according to #Chainalysis . This marks a 21% increase from 2023.
Although 2024 saw a record 303 incidents, the total losses were lower than the $3.7 billion stolen in 2022. Most of the funds (72%) were stolen between January and July. Major incidents included the DMM Bitcoin hack in May ($305 million) and the WazirX heist in July ($235 million).
#DeFi platforms were the primary targets, followed by centralized services. Private key compromises caused 44% of the losses, while security flaws accounted for 6.3%, highlighting the need for better private key management.
North Korea’s cyber operations fund weapons programs, with 2024’s theft surpassing the previous $1.1 billion record from 2022. Smaller-scale attacks also increased. Despite a slowdown after July, attacks are expected to persist in 2025 as crypto prices rise.
Although 2024 saw a record 303 incidents, the total losses were lower than the $3.7 billion stolen in 2022. Most of the funds (72%) were stolen between January and July. Major incidents included the DMM Bitcoin hack in May ($305 million) and the WazirX heist in July ($235 million).
#DeFi platforms were the primary targets, followed by centralized services. Private key compromises caused 44% of the losses, while security flaws accounted for 6.3%, highlighting the need for better private key management.
North Korea’s cyber operations fund weapons programs, with 2024’s theft surpassing the previous $1.1 billion record from 2022. Smaller-scale attacks also increased. Despite a slowdown after July, attacks are expected to persist in 2025 as crypto prices rise.