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` section:Overview of Cyber Offensives
In a staggering display of cyber prowess, North Korea-linked hackers have reportedly siphoned off nearly $430 million from decentralized finance (DeFi) platforms. Furthermore, these malicious actors have expanded their crosshairs to include centralized services, exchanges, and wallet providers over the course of 2023.
The Chainalysis Report Findings
According to the latest findings by Chainalysis, a vanguard in blockchain forensics, the past year has seen an unprecedented wave of attempted cyber-attacks by North Korea-affiliated groups on decentralized networks. These groups, notably including Kimsuky and Lazarus Group, have orchestrated 20 successful attacks, accumulating an approximate total of $1 billion in crypto assets.
Comparative Analysis of Crypto Heists
Despite the high number of attacks, the total loot by these hacking groups marks a 41.7% decrease from the previous year, with 2022’s figures towering at about $1.7 billion stolen. The $428.8 million stolen from DeFi protocols and the $150 million from centralized services in 2023 are part of a broader trend of decline in crypto theft.
Exchange and Wallet Providers Under Siege
Exchanges bore the brunt of these incursions, with losses estimated at $330.9 million, while wallet providers faced a significant blow, with total losses reaching $127 million. This underscores the growing risk and vulnerabilities present within the crypto ecosystem.
A Decline in DeFi Hacking
2023 has notably seen a 63.7% decrease in the value stolen from DeFi platforms, with hackers managing to extract only $1.1 billion from smart contracts. This is indicative of a potential downturn in DeFi hacking, which has been the primary driver for the surge in crypto theft in preceding years.
Broader Implications for Illicit Crypto Activities
It’s not just the stolen funds that are seeing a decline. As per previous reports by crypto.news, the total value received from illicit crypto activities has also plummeted, with 2023 figures standing at $24.2 billion, almost 39% lower than the $39.6 billion recorded in 2022.
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