Crypto hackers snagged a record $3.8B in 2022

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Cyber criminals made off with a record $3.8 billion through hacking attacks on cryptocurrency businesses in 2022, according to a report released this week.

The figure surpasses the $3.3 billion in successful crypto hacks that were tracked in 2021. The findings suggest the lion's share of the thefts, some $1.7 billion, were conducted by hackers based in North Korea.

According to a November report by The Conversation , North Korea sponsors several hacker groups, including Lazarus Group and Advanced Persistent Threat 38. Since then, they've refined their methods. Lazarus has been accused of stealing $571 million from cryptocurrency exchanges between January 2017 and September 2018, $316 million from 2019 to November 2020, and $840 million in the first five months of 2022.

DeFi protocols as victims accounted for 82.1% of all cryptocurrency stolen by hackers in 2022 — a total of $3.1 billion — up from 73.3% in 2021. And of that $3.1 billion, 64% came from protocols that aid cryptocurrency transfers from one blockchain platform to another.

 

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