Persistent cyber attacks pose a significant challenge to the crypto industry
In 2023, hackers targeted cryptocurrency platforms, making off with approximately $1.7 billion, marking a 54.3 per cent decrease from the previous year, as per a report by Chainalysis released on Wednesday.
Persistent cyber attacks pose a significant challenge to the crypto industry, contributing to the skepticism of regulators worldwide. Despite a notable reduction in stolen funds, the total number of individual hacking incidents increased from 219 in 2022 to 231 in the past year, according to Chainalysis. Notably, North Korea-linked organisations were responsible for 20 of these hacks, reaching a record high. Chainalysis estimated their loot at just over $1 billion, down from $1.7 billion in 2022. It’s worth mentioning that North Korea has consistently denied any involvement in hacking or other cyber attacks.