Funds to hack cryptocurrency platforms through hackers soared 21% from a year ago to $2.2 billion (approximately Rs 18,710) in 2024, according to a report by Blockchain Analitive Corporate Chain Analysis.
It said the number of hackers exceeded US$1 billion (about Rs 85,02 crore) for the fourth consecutive year, with the number of incidents rising to 303 from US$282 in 2023. The hacker was stolen $1.8 billion (about Rs 15,302 crore) in 2023.
The rise in crypto robbery comes as Bitcoin jumped 140% this year, exceeding $100,000 (about Rs 8.5 lakh), attracting institutional participation and gaining support from U.S. President-elect Donald Trump.
“As the digital asset market booms, it is typically growing simultaneously with the illegal use of cryptocurrencies,” said Eric Jardine, head of research at Chainalysis’ Cybercrimes.
“And against the spread of these crimes, especially fraud – there is no doubt that for the New Year, this will be a key challenge for the industry.”
The report said the compromised private key controls access to user assets this year accounted for most stolen cryptocurrencies, most of which targeted centralized platforms.
The most eye-catching hacking was theft of more than $305 million (approximately Rs 25,93 crore) from Japan’s cryptocurrency exchange DMM Bitcoin in May and theft of $235 million from India’s Wazirx in July (approximately Rs 2,93 crore) from India’s Wazirx in July. 1997 crore rupees).
Chainalys analyzed that North Korea-related crypto hackers doubled a year ago, reaching a record $1.3 billion (about Rs 110,53 crore) in 2024.
The UN said cryptocurrencies allow North Korea to circumvent international sanctions. The country generally denies participating in cyber hacking robbery.
©Thomson Reuters 2024
(This story has not been edited by Tech Word News’s staff and is automatically generated from the joint feed.)
