North Korean hackers lead cryptocurrency thefts in 2024, survey shows

For the fifth consecutive year, cryptocurrency theft exceeded US$1 billion; This equates to R$6.1 billion at today’s exchange rate. Hackers affiliated with the North Korean government are responsible for most malicious activity in 2024. The data is contained in a study published this Thursday (19) by Chainalytics.

In total, Cybercriminals stole US$2.2 billion (R$13.5 billion) in crypto assets this year21% increase compared to 2023. Of this amount, North Korean groups held US$1.34 billion (R$8.2 billion), or 61% of the embezzled amount; It increased by 102.88% compared to last year.

The report states that hackers linked to Kim Jong-un were behind 47 cyber attacks on crypto wallets in the last 12 months. Generally, these campaigns involve the use of advanced malware and social engineering techniques to illegally obtain crypto assets.

International authorities believe the stolen cryptocurrencies were used to finance North Korea’s development of weapons of mass destruction and ballistic missiles. The country is increasingly involved in large-scale attacks that generate profits between US$50 million and US$100 million (R$307 million to R$614 million).

Attacks decreased in the second half of the year

Most cryptocurrency theft attacks in 2024 occurred between January and July, when perpetrators have already obtained US$1.58 billion (R$9.7 billion). From then on, events started to become rare. May be related to North Korea’s alliance with Russia in JuneAccording to the blockchain analysis company.

Following the meeting that resulted in the signing of the mutual defense agreement between the leaders of the two countries, there was a 53.73% decrease in attacks carried out by hackers in the Asian country. Despite this, new big campaigns are expected for the Christmas and New Year holidays.

The report recommends that decentralized finance (DeFi) platforms strengthen their cybersecurity solutions. They have become the main target of cybercriminals for the last three years, and this situation was repeated in the first quarter of 2024.