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Overall, the amount of cryptocurrency stolen by hackers in 2024 increased by 21% from last year but it was still below the levels recorded in 2021 and 2022, the report said.<\/p>\n
“The rise in stolen crypto in 2024 underscores the need for the industry to address an increasingly complex and evolving threat landscape.” <\/p>\n
It said the majority of crypto stolen this year was due to compromised private keys – which are used to control access to users’ assets on crypto platforms.<\/p>\n
“Given that centralised exchanges manage substantial amounts of user funds, the impact of a private key compromise can be devastating”, the study added.<\/p>\n
Some of the most significant incidents this year included the theft of the equivalent of $300m in bitcoin from Japanese cryptocurrency exchange, DMM Bitcoin, and the loss of nearly $235m from WazirX, an India-based crypto exchange.<\/p>\n
The US government has said the North Korean regime resorts to cryptocurrency theft and other forms of cybercrime to circumvent international sanctions and raise money.<\/p>\n
Last week, a federal court in St Louis indicted 14 North Koreans for allegedly being part of a long-running conspiracy aimed at extorting funds from US companies and funnelling money to Pyongyang’s weapons programmes.<\/p>\n
The US State Department also announced that it would offer a reward of up to $5m for anyone who could provide more information about the alleged scheme.<\/p>\n<\/div>\n<\/div>\n
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