Chainalysis: Hackers Stole $1.7 Billion in Cryptocurrency in 2023
According to analysts at Chainalysis, hackers stole a total of $1.7 billion in assets from various cryptocurrency platforms in 2023. The company’s report notes that the total amount lost to hacking attacks last year dropped significantly compared to $3.7 billion stolen in 2022 and $3.3 billion in 2021. However, the number of incidents actually increased, rising from 219 in 2022 to 231 in 2023.
Decrease in DeFi Attacks
Chainalysis believes the decline in hackers’ “profits” is mainly due to a reduction in attacks targeting DeFi (decentralized finance) systems. In 2023, DeFi attacks resulted in $1.1 billion stolen, compared to $3.1 billion in 2022—a 64% decrease year-over-year.
Major Hacks of 2023
Some of the largest hacks last year included attacks on:
- Euler Finance ($197 million in losses)
- Mixin Network ($200 million)
- Poloniex Exchange ($130 million)
- HTX ($113.3 million)
- Curve Finance ($73.5 million)
- CoinEx ($43 million)
- Kyber Network ($54.7 million)
North Korean Hackers
The report also highlights the activities of North Korean “state-sponsored” hackers, who are believed to actively steal and launder cryptocurrency. The stolen funds are reportedly used by the regime to finance military programs. Chainalysis experts estimate that North Korean hackers stole about $1 billion in 2023, which is significantly less than the $1.7 billion stolen in 2022. However, the number of attacks linked to North Korean groups increased from 15 in 2022 to 20 in 2023.
Growing Sophistication on Both Sides
“While the total amount stolen from crypto platforms in 2023 dropped significantly compared to previous years, it’s clear that attackers are becoming more sophisticated and inventive in their methods. The good news is that crypto platforms are also getting better at security and incident response,” the experts concluded.