North Korean-Linked Hackers Are Targeting Crypto Platforms More But Stealing Less, Report Says.

According to a report from blockchain analysis firm Chainalysis Inc., the number of North Korean-linked hacks of cryptocurrency platforms reached a record high in 2023, but the amount of funds stolen decreased by about 40%. In a series of 20 hacks, cybercriminals associated with North Korea stole slightly over $1 billion worth of cryptocurrency, compared to $1.7 billion in 2022. The decline in funds stolen by North Korean hackers reflects a larger trend in the cryptocurrency security landscape, with an overall decrease in hacks of decentralized finance protocols. This decline is attributed to better security practices and a decrease in DeFi activity. As cryptocurrency platforms strengthen their networks, North Korean hackers are employing more diverse and sophisticated tactics to keep up. Investor behavior in the volatile cryptocurrency markets may also be a factor, as investors diversify their currency among multiple platforms to mitigate risk. [Extracted from the article]