For cryptocurrencies
More than $1.3 billion of that loss goes back to North Korea. Yes, the regime doesn’t just launch missiles — it launches hacks. This isn’t a movie plot; this is real life, and the stolen money allegedly funds weapons programs.
Biggest Hits in 2024
- DMM Bitcoin Exchange (Japan): Lost 4,500 BTC in a single attack - worth hundreds of millions.
- Cross-chain protocols: Bridges like Ronin and Wormhole remain treasure troves for hackers, representing billions of vulnerabilities.
- Smart contracts under fire: The coding weakness in DeFi protocols has been exploited time and time again, proving that the technology is not immune.
Why does this happen?
The decentralized nature of cryptocurrencies is both its superpower and its weakness. With billions locked in smart contracts and exchanges, hackers see endless opportunities. Security is lagging, and the bad guys are getting smarter.
How to protect yourself
- Use cold storage: Keep your coins in hardware wallets like Ledger or Trezor - hackers can't touch what's offline.
- Be skeptical: If it sounds too good to be true, it probably is. Avoid suspicious tokens and untrustworthy platforms.
- Stay informed: Follow updates from platforms like CryptoPanic or DeFiSafety to know where the risks lie.
The big picture
$2.2 billion gone, and 2024 isn’t over yet. The cryptocurrency world is booming, but the risks are growing just as fast. Hackers are innovating as quickly as the market, and if the industry doesn’t step up its security game, your wallet could be next.
Are you ready to protect your assets? Or are you gambling?
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