Crypto Thefts Hit Record $3.8 Billion Last Year on North Korean Hacks
Sanctions on North Korea drove pickup in stolen crypto, according to Chainalysis report
A screen displays a broadcast of a news report featuring North Korean leader Kim Jong Un at Seoul Station in Seoul, South Korea, on Tuesday, April 21, 2020.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
Thieves stole a record $3.8 billion worth of cryptocurrency in 2022 as sanctions on North Korea drove a surge in suspected hacking by the Asian nation.
Overall crypto losses increased from $3.3 billion stolen in 2021, blockchain analysis firm Chainalysis Inc. said in a report published Wednesday. Hacking groups that US officials have linked to the North Korean government stole an estimated $1.7 billion in 2022 and up from roughly $400 million last year, according to the firm.