📊 2024 Crypto Hack Insights

  • Biggest Year for Hacks: With 303 attacks, 2024 saw the highest number of hacks in crypto history.

  • Comparisons to 2022: Though fewer hacks (231) occurred in 2022, losses were higher at $3.7 billion.

💥 Major Crypto Hacks of 2024

1️⃣ Orbit Chain Hack: $80M stolen through compromised multi-signature wallets.
2️⃣ DMM Bitcoin Hack: $305M stolen due to platform vulnerabilities, making it the largest crypto hack of the year.
3️⃣ WazirX Hack: $235M stolen by the Lazarus Group, a North Korean hacker organization.

👉 North Korea’s Role:

  • North Korea-affiliated hackers were behind 61% of stolen funds, amounting to $1.34B across 47 attacks.

  • The DPRK’s activity has decreased by 53.73% since a Russia-North Korea summit in June 2024.

🔑 Key Causes of Crypto Hacks

  1. Private Key Compromises: Centralized exchanges remain vulnerable despite KYC measures.

  2. DeFi Smart Contract Exploits: Security vulnerabilities highlight the need for stronger protocols.

🛡️ Protecting Your Assets

  • Use Cold Wallets: Keep funds offline to minimize risk.

  • Verify Smart Contracts: Only interact with audited platforms.

  • Stay Vigilant: Watch for phishing attempts and suspicious links.

While 2024 broke records in hack frequency, the decline in DPRK activity shows how international political developments can impact cybercrime. The collaboration between global authorities is crucial in fighting crypto-related crimes.

As the crypto market evolves, robust security measures and user awareness are more vital than ever to safeguard assets.

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