• 19/04/2024 10:50

In 2023, hackers managed to withdraw $1.8 billion from the crypto market – study

Over the past year, cryptocurrency market participants became $1.8 billion poorer due to the actions of various hackers. This was reported by analysts of the Immunefi platform.

In 2023, hackers managed to withdraw $1.8 billion from the crypto market - research

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The project team looked at cases where hackers used crypto protocols to steal funds, as well as cases where protocols were allegedly manipulated. Analysts found 319 such cases.

Two projects lost the majority: Mixin Network and the DeFi protocol Euler Finance. They account for almost one-fifth of all stolen funds.

Read: Spot Bitcoin ETF: will governments be able to centralize the first cryptocurrency

Lazarus Group, which is associated with the North Korean government, is responsible for the theft of $308 million in 2023, representing 17% of total losses, experts said.

North Korea was allegedly behind attacks on Atomic Wallet, CoinEx, Alphapo, Stake and CoinsPaid .

In 2023, there were many cases of hackers recovering funds. In total, the scammers returned $241 million, most of which was returned to the notorious Euler Finance.

Analysts concluded that the amount of stolen funds was halved compared to the previous year. In 2022, hackers and scammers stole almost $4 billion.

Read: Trading volume on crypto exchanges exceeded $1 trillion for the first time in 15 months

In On New Year's Eve, the South Korean cryptocurrency platform Orbit Chain suffered a hacker attack, during which the attackers stole crypto assets worth more than $81 million.


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