With $1.59 billion in stolen crypto funds, North Korea heads the world as being the highest location for cyberattacks and stealing of funds in crypto.
What Occurred: A recent report by Coincub revealed that North Korea has skilled 15 large-scale cybercrime incidents involving crypto, inflicting over $1.59 billion in stolen funds. These exploits are a results of a community of seven,000 hackers, constituting hacker collectives, comparable to Lazarus, and particular person smaller-scale hackers.
Following North Korea, the US has skilled 14 incidents of crypto crime. Russia, with $1.4 billion in stolen funds and dozens of malware exploits, comes third within the record of nations experiencing crypto-related cybercrime.
Additionally Learn: Snoop Dogg: Crypto Crash ‘Weeded Out’ Everyone Who Wasn’t Supposed To Be There
Nevertheless, the report notes that solely 0.15% of cryptocurrency transactions pertain to malicious actions, comparable to exploits and cybercrimes.
Thus, regardless of the current bearish downtrend of the crypto market, because the sector continues to develop, rules to supervise cryptocurrency and transactions could assist scale back the variety of crypto-related cybercrime incidents.