• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Chainalysis: Increasing Ransomware and Fund Thefts in the Cryptocurrency Sector

user avatar

by Giorgi Kostiuk

2 years ago


  1. The Rise of Ransomware and Fund Thefts
  2. Ongoing North Korean Hacker Attacks
  3. Conclusion

  4. Analytical company Chainalysis's 2024 report showed an overall decrease in illegal activities in the cryptocurrency sector, but noted a significant rise in fund thefts and ransomware attacks.

    The Rise of Ransomware and Fund Thefts

    According to Chainalysis, the total value of illegal activities has dropped from $20.9 billion to $16.7 billion since the beginning of the year. Despite the overall reduction, there has been a significant increase in categories such as fund thefts and ransomware attacks. The amount of stolen funds has risen from $857 million to $1.58 billion. Ransomware attack revenues have increased by 2%, reaching $459.8 million.

    "Since January, the amount of cryptocurrency stolen in each heist has increased by nearly 80%. Part of this is due to the rise in Bitcoin’s price, which accounts for 40% of the total transaction volume associated with these heists."

    Ongoing North Korean Hacker Attacks

    The report states that revenues from ransomware attacks have reached their highest level so far this year, and 2024 could be a record year for ransomware payments. Despite conducting fewer high-profile attacks, groups carrying out large-scale attacks have collected substantial payments.

    The report also mentions that North Korean-linked hacker groups are using sophisticated social engineering tactics to infiltrate companies in the cryptocurrency sector and steal funds. According to the latest United Nations (UN) report, thousands of North Korean IT specialists are using sophisticated fraud methods to find jobs in Western technology companies.

    Conclusion

    Despite the overall decline in illegal activities in the cryptocurrency sector, the significant rise in fund thefts and ransomware attacks continues to pose a major threat to the sector's security and integrity.

    The increase in fund thefts and ransomware attacks in the cryptocurrency sector highlights the need for enhanced security measures and developments to counter such threats.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

HIP3 Revolutionizes Event-Driven Trading

chest

HIP3 is providing traders with new event-driven trading opportunities outside traditional market hours.

user avatarMohamed Farouk

Hyperliquid's Transparent Token Model Gains Traction

chest

Pratik Kala emphasizes Hyperliquid's transparent token model and its growing adoption among traders and funds.

user avatarElias Mukuru

Apollo Crypto's Major Investment in Hyperliquid

chest

Apollo Crypto has made Hyperliquid its largest altcoin position, highlighting its unique token design and market structure.

user avatarBayarjavkhlan Ganbaatar

Analysts Optimistic About Microsoft's Growth Potential

chest

Analysts are optimistic about Microsoft's growth potential, with price targets for MSFT set between 600 and 650 due to strong AI partnerships.

user avatarDiego Alvarez

Microsoft Partners with Starlink to Enhance Digital Access

chest

Microsoft partners with Starlink to enhance digital access in rural areas.

user avatarKenji Takahashi

Microsoft and OpenAI Strengthen Partnership in 2026

chest

On February 27, 2026, Microsoft and OpenAI announced the growth of their partnership, which has evolved from a collaborative research effort to a significant technology focus.

user avatarMaria Fernandez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.