đ„ Crypto Under Siege: $2.2 Billion Stolen in 2024!
The crypto world is facing a storm as $2.2 billion worth of digital assets have been stolen this year, according to a new study by Chainalysis. Shockingly, North Korean hackers are responsible for more than half of the loot, raking in a staggering $1.3 billionâmore than double their haul from last year!
đ Whatâs Happening?
- Hackers in Disguise: North Korean hackers are allegedly posing as remote IT workers to infiltrate crypto and tech firms.
- Key Compromises: Most thefts occurred due to compromised private keys, devastating centralized exchanges.
- Biggest Heists:
- $300M stolen from Japanâs DMM Bitcoin exchange.
- $235M lost from Indiaâs WazirX exchange.
đŁ Why It Matters:
The US government has linked these thefts to North Koreaâs efforts to evade sanctions and fund weapons programs. A federal court recently indicted 14 North Koreans for extorting funds, while the US State Department is offering a $5M reward for information on the scheme.
đ MeanwhileâŠ
Despite the chaos, Bitcoin has doubled in value this year as President-elect Donald Trump is expected to take a more crypto-friendly stance than Joe Biden.
The Takeaway:
2024âs rise in crypto theft highlights the urgent need for better security in the industry. With hackers growing more sophisticated, protecting private keys and adopting robust safeguards are more important than ever!
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