Summary
A new Chainalysis report reveals that despite a decrease in the total value stolen compared to the previous year, North Korea-linked hacks are on the rise. In 2023, North Korea-linked attackers stole approximately $1 billion, down from the all-time high of $1.7 billion in 2022. However, the number of hacks increased, with North Korea being linked to 20 known attacks, compared to 15 in 2022. The majority of the stolen funds, $428 million, came from DeFi platforms, while centralized services lost $150 million, exchanges suffered losses of $330 million, and wallet providers had $127 million stolen. The report attributes the decrease in stolen funds to the drop in DeFi hacking, with DeFi protocols losing $1.1 billion in 2023, down from $3.1 billion in 2022. Despite concerns about vulnerabilities in DeFi protocols, the report found reason for optimism and highlighted the increase in security measures as a key factor in reducing hacks related to smart contract vulnerabilities.
Key Points
1. North Korea-linked hacks are increasing in number, despite a decrease in the total value stolen compared to the previous year.
2. In 2023, North Korea-linked attackers stole approximately $1 billion, down slightly from the all-time high of $1.7 billion in 2022. However, the number of hacks increased, with the highest number of known attacks at 20.
3. The majority of the stolen funds come from decentralized finance (DeFi) platforms, with $428 million stolen. Centralized services lost $150 million, exchanges suffered losses of $330 million, and stolen funds from wallet providers amounted to $127 million.