North Korean Hackers Stole $1.3 Billion in Crypto in 2024—Report

• A report from Chainalysis has found that hackers stole $2.2 billion worth of crypto in 2024.
• Over half of the total stolen was reportedly from North Korean hackers.
• The amount of crypto stolen this year increased by 21%.

North Korean hackers have accounted for over half of the total amount of crypto stolen in 2024, according to a new study from Chainalysis.

A total of $2.2 billion in crypto was stolen this year, as experts warn that hacks are increasingly complex.

North Korean Hackers Top Charts

The Chainalysis report has found that North Korean hackers stole $1.3 billion in crypto over the past 12 months.

The stolen funds doubled in size from the amount taken in 2023, which highlights how cryptocurrencies are becoming an increasingly attractive target for cybercriminals.

According to the report, some North Korean hackers posed as IT workers to gain access to crypto firms.

It comes after a U.S. court indicted 14 North Koreans, last week, for charges relating to the extortion of funds from American businesses.

U.S. citizens have been rewarded up to $5 million for anyone with information on the long-running conspiracy.

Crypto Scams on the Rise

The report stated that the amount of crypto obtained by hackers over the past 12 months increased 21% year-on-year.

Bad actors primarily utilized stolen private keys to carry out the attacks, which gave them access to accounts.

“The rise in stolen crypto in 2024 underscores the need for the industry to address an increasingly complex and evolving threat landscape,” the report stated.

A September report by the Federal Bureau of Investigation (FBI) warned that digital asset scams are becoming more complex.

“Scams targeting cryptocurrency investors are skyrocketing in severity and complexity,” FBI Director Christopher Wray said.

The FBI believes that hackers are making quick and irreversible transactions globally by taking advantage of the crypto industry’s decentralized nature.