North Korean state-sponsored hackers have achieved an unprecedented milestone in cryptocurrency theft, stealing $1.34 billion across 47 cyberattacks in 2024, according to Chainalysis’s latest report. This figure represents 61% of all cryptocurrency theft for the year and marks a 21% increase from previous years.

Key Findings:
– 72% of total theft occurred between January and July 2024
– Notable attacks include DMM Bitcoin ($305 million) and WazirX ($235 million)
– Private key compromises accounted for 44% of losses
– Security flaw exploitation represented only 6.3% of thefts

Attack Patterns and Trends:
The number of incidents reached 303 in 2024, though 2022 remains the highest in terms of total losses at $3.7 billion. DeFi platforms and centralized services were the primary targets, with hackers showing increased sophistication in their approaches.

North Korean Operations:
– 102.88% increase in stolen value compared to 2023 ($660.50 million)
– 47 successful incidents, up from 20 in 2023
– Increased frequency of both large-scale and small-value attacks
– Notable incident: Compromise of 1,590 CoinStats cryptocurrency wallets

The surge in cryptocurrency prices and continued bull market suggests these attacks will likely persist into 2025, highlighting the urgent need for enhanced security measures across the cryptocurrency sector.