Report: North Korean Hackers Stole 45% of $3.8 Billion in Crypto in 2022

A report from Chainalysis revealed that North Korean hackers were responsible for 45% of the $3.8 billion that was stolen from cryptocurrency in 2022.

March and October saw the highest number of hack attacks, with a total of 55 separate hacks and $1.4 billion stolen.

The total amount stolen from hacks in 2022 was lower than in 2021, with more than 200 hacks and $3.8 billion stolen compared to more than 200 hacks and $3.3 billion stolen in 2021.

The primary North Korean-based hacker group, Lazarus, also known as Guardians of Peace, is believed to be run by the North Korean government and was responsible for stealing $1.7 billion from the global crypto market.

DeFi suffered the largest losses, with 82.1% of all crypto losses in 2022, or $3.1 billion, coming from DeFi. Hackers targeted cross-chain bridge protocols, which led to the downfall of Tornado Cash and the rise of Sinbad.

The report suggests that transparency, which is often seen as a strength of cryptocurrency, is becoming a weakness that needs to be addressed through security testing, external auditing, and circuit breaker features.