Chainalysis Report: North Korea-Backed Hackers Stole $1.7bn in Crypto in 2022
Login

Chainalysis Report: North Korea-Backed Hackers Stole $1.7bn in Crypto in 2022

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


According to research by blockchain analysis company Chainalysis, cybercriminals sponsored by North Korea stole $1.7 billion (£1.4 billion) in cryptocurrency in 2022, breaking the previous record for cryptocurrency theft by at least four times.

According to Chainalysis’ study, last year was “the biggest year ever for crypto hacking.”

Cybercriminals in North Korea are allegedly turning to crypto theft to support the country’s expanding nuclear arsenal as it struggles under crippling international sanctions and is marginalized in the global market. The report noted:

“For context, North Korea’s total exports in 2020 totaled $142m worth of goods, so it isn’t a stretch to say that cryptocurrency hacking is a sizable chunk of the nation’s economy.”

North Korea Hackers Stole 44% of All Stolen Cryptocurrency in 2022: Chainalysis

According to Chainalysis, 44% of the $3.8 billion in cryptocurrency stolen in the last year was stolen by North Korean hackers. The report further detailed:

“The vast majority of illicit value processed by mixers is made up of crypto stolen in hacks, most of which were carried out by groups linked to North Korea. They’re unlikely to be dissuaded by the threat of US sanctions given they reside in a non-cooperative jurisdiction.”

The year’s stolen developments “ebbed and flowed,” with “huge spikes” documented in March and October, even though October was noted as the month with the highest monthly average of bitcoin hacking activities.

According to the data, there were a total of 32 incidents in October that resulted in the theft of $775.7 million.

The report stated that the hackers connected to North Korea, including those in the cybercrime group Lazarus Group, had been by far the most prolific bitcoin thieves, committing multiple thefts totaling an estimated $1.7 billion last year.

 

You can purchase Lucky Block here. Buy LBLOCK

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News