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Started By
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North Korea's state sponsored hackers stole 1.3 billion in crypto
Posted on 12/24/24 at 4:52 pm
Posted on 12/24/24 at 4:52 pm
quote:
"In 2023, North Korea-affiliated hackers stole approximately $660.50 million across 20 incidents; in 2024, this number increased to $1.34 billion stolen across 47 incidents—a 102.88% increase in value stolen" says the report
quote:
Notable high-profile incidents in 2024 attributed to North Korean-sponsored hackers include a $50 million heist of Radiant Capital, "a cryptocurrency that operates on an omnichain money market, aiming to consolidate fragmented liquidity across various blockchain protocols."
Yep. Anyway, Chainalysis says that while the number of crypto thefts overall is the highest its ever been this year, with 303 major incidents reported, 2022 still remains supreme when it comes to most money stolen, with a staggering $3.7 billion in crypto estimated to have been lost.
Regardless, that $1.3 billion figure accounts for 61% of the $2.2 billion total of funds stolen from crypto platforms in 2024, according to the report.
Most of the incidents were said to occur between January and July, when 72% of the total yearly value was pilfered. The analysts noted that DPRK-associated hackers conducted more frequent attacks than average over the year as a whole, which may indicate more capacity to execute large-scale attacks than years previous.
quote:
Earlier this year, it was reported that CoinStats, a cryptocurrency portfolio management app with over 1.5 million users, suffered a security breach that compromised 1,590 crypto wallets. The attack was blamed on North Korean hackers, specifically the Lazarus hacking group, a shadowy organisation said to be made up of an unknown number of individuals allegedly working for the government of North Korea.
They believe the Lazarus Group is behind a lot of it
1
Posted on 12/26/24 at 10:43 am to TigerintheNO
More concerns over the security of bitcoin
“Dec. 24 (UPI) -- Japan's National Police Agency said on Tuesday that the hacker group TraderTraitor, which is based in North Korea, is likely responsible for a May hack that allowed $308 million in Bitcoin to be taken from a Japanese cryptocurrency exchange.”
Stolen bitcoin
“Dec. 24 (UPI) -- Japan's National Police Agency said on Tuesday that the hacker group TraderTraitor, which is based in North Korea, is likely responsible for a May hack that allowed $308 million in Bitcoin to be taken from a Japanese cryptocurrency exchange.”
Stolen bitcoin
Posted on 12/26/24 at 12:40 pm to SlidellCajun
quote:Has nothing to do with the security of bitcoin. The bitcoin network has never and "likely" will never be hacked. Exchanges are hacked all of the time.
More concerns over the security of bitcoin
Said in another way - if a robber steals from a bank, the security of the dollar isn't at risk.
Posted on 12/26/24 at 12:50 pm to TigerTatorTots
This post was edited on 2/7/25 at 10:54 am
Posted on 12/26/24 at 1:45 pm to lsuconnman
quote:
Cashing out hundreds of millions in stolen coins for any currency seems nearly impossible.
Very true as most of these headlines are just multiplying by x for maximum figures.
Majority of the crypto market is very illiquid and impossibly hard to not crash the market with any sort of volume
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