Crypto Hacks Stole Record $3.8 Billion in 2022, Report Finds

Crypto Hacks Stole , Record $3.8 Billion in 2022, Report Finds.

NBC reports that last year was the worst on record for cryptocurrency theft, with hackers taking as much as $3.8 billion.

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According to a U.S.-based blockchain analytics firm, hackers linked to North Korea stole a record-breaking amount in 2022.

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A report by Chainalysis released on February 1 found that hacking activity had "ebbed and flowed" throughout the year.

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The report also found that there were "huge spikes" in both March and October.

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The month of October ended up being the biggest single month ever for cryptocurrency hacking with 32 separate attacks resulting in $775.7 million stolen.

NBC reports that 2022 was a hard year for cryptocurrencies, with diminishing risk appetite and the collapse of several crypto firms. NBC reports that 2022 was a hard year for cryptocurrencies, with diminishing risk appetite and the collapse of several crypto firms. In the end, investors suffered huge losses, and regulators increased calls to bolster consumer protection.

According to the report, North Korea-linked hackers, like the syndicate Lazarus Group, stole an estimated $1.7 billion in multiple 2022 attacks.

In 2022, they shattered their own records for theft, Chainalysis report, via NBC.

It isn’t a stretch to say that cryptocurrency hacking is a sizable chunk of the nation’s economy, Chainalysis report, via NBC