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A new report from Chainalysis reveals that hackers linked to the Democratic People’s Republic of Korea (DPRK) have significantly increased their activities in the world of cryptocurrencies. Stealing more than $1.3 billion in digital assets during 2024.
This represents a 100% increase compared to the 660 million stolen in 2023 and is equivalent to 61% of all thefts reported in the sector during the year.
The report, published on December 19, highlights that attacks carried out by groups linked to North Korea not only increased in number. If not also in escalation and sophistication.
According to Chainalysis, attacks generating between $50 and $100 million were recorded more frequently in 2024. As well as others that exceeded 100 million. This pattern contrasts with previous years, when most of the thefts carried out by these groups amounted to less than 50 million.
“DPRK attacks are becoming more frequent and efficient,” Chainalysis noted. Underscoring the growing ability of North Korean hackers to execute massive operations in the Cryptocurrency sector.
North Korean hackers have been responsible for some of the largest security breaches in cryptocurrency and blockchain companies, generating multi-million dollar losses. The United States has taken recurring action against these activities, sanctioning entities linked to money laundering and digital theft perpetrated by the DPRK.
Chainalysis acquires Hexagate to strengthen Web3 security
Blockchain analysis platform Chainalysis has taken a strategic step into the Web3 security space with the acquisition of Hexagate. An Israeli company specialized in threat detection and mitigation.
The announcement, made on December 18, underscores Chainalysis’ intention to expand its services beyond data analysis toward active crime prevention in the blockchain ecosystem.
We have spent 10 years following the money. Now it’s time to prevent the money from being stolen. Welcome to the era of secure smart contracts with proper monitoring and real-time threat detection. Announcing our acquisition of @hexagate_ https://t.co/05Bhy3R1ey
— Jonylevin (@jony_levin) December 18, 2024
Founded in 2022, Hexagate has been recognized for its innovative Web3 security solutions, preventing the loss of over $1 billion in customer funds. Companies like Coinbase and Consensys are among the beneficiaries of their services. According to Jonathan Levin, CEO of Chainalysis, the acquisition marks a strategic shift toward theft prevention and securing smart contracts through real-time threat detection and monitoring.
«We have spent 10 years following the money. Now is the time to prevent it from being stolen,” said Levin in X. Highlighting the company’s commitment to security in the era of smart contracts.
Bitfinex hacker breaks silence from prison: “I am the only one responsible for the theft”
Ilya Lichtenstein, the hacker behind the theft and laundering of miles of Bitcoins from the Bitfinex cryptocurrency exchange, has shared a public statement from prison after being sentenced to five years in prison.
In a message posted on .
«I knew what I was doing was wrong and I did it anyway because I didn’t care. “I didn’t care about anyone but myself,” he said in a video where he often appeared to read a prepared statement.
Lichtenstein stressed that he planned and executed the theft on his own and assured that Morgan was not involved in the hacking: “He didn’t even know about it for years.”
Heather Morgan, known as “Razzlekhan,” pleaded guilty in November to conspiracy to launder money and defraud the United States. Receiving an 18 month sentence.
Hawk Tuah Investors Sue Producers, Promoters for Securities Fraud
Investors in Hawk Tuah, a controversial meme coin launched in December, have filed a lawsuit against several of those responsible behind the project. Accusing them of securities fraud. Although Hailey Welch, creator of the cryptocurrency, is not listed as a defendant nor does she appear to have direct involvement in the legal proceedings.
Hawk Tuah’s debut generated great excitement, reaching an initial market capitalization of $500 million. However, just 20 minutes after its launch, the token’s value collapsed drastically. Sparking criticism and suspicion in the meme coin space.
The lawsuit filed by the investors argues that the project was clearly aimed at the US market. And that, despite the legal implications, was not registered as a security.
“Token holders were described as shareholders, but 96% of the HAWK supply was concentrated in a single group on launch day,” the document notes. Citing this unequal distribution as one of the bases of the case.
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