This Year’s Global Cryptocurrency Hacking Losses Expected to Reach Record High... Already Over 4 Trillion Won

Blockchain Analytics Firm Chainalysis
"125 Cryptocurrency Hacking Incidents Already Occurred This Year"

This year, the scale of cryptocurrency hacking damages is expected to be the largest ever. [Image source=Pixabay]

[Asia Economy Reporter Kim Jung-wan] It has been claimed that hackers worldwide have stolen over $3 billion (approximately 4.3 trillion KRW) worth of cryptocurrency this year from DeFi (decentralized finance) platforms and others through hacking.

According to Bloomberg on the 13th, blockchain analytics firm Chainalysis announced via Twitter that in October alone, about $718 million (approximately 1 trillion KRW) worth of cryptocurrency was stolen through hacking, and that there have already been 125 cryptocurrency hacking incidents this year.

Chainalysis forecasted that if the current trend continues, the scale of cryptocurrency hacking damage this year is likely to surpass last year's record, which was the largest ever, setting a new record.

Last week, the world's largest cryptocurrency exchange, Binance, suffered a theft of 2 million Binance Coins worth $570 million (approximately 820 billion KRW). Of this, $470 million (approximately 672.8 billion KRW) has been frozen, but the remaining $100 million has yet to be recovered.

Chainalysis claimed that hackers have begun to skillfully exploit weaknesses in DeFi's transaction structures and security systems. They added that DeFi, which provides various cryptocurrency-related financial services using blockchain technology without control from central authorities such as governments or companies, has become the main target of hackers.

Additionally, cases of DeFi being targeted by state-sponsored hacking are increasing. Earlier this year, Chainalysis revealed that hackers linked to North Korea are estimated to have stolen about $1 billion (approximately 1.432 trillion KRW) worth of cryptocurrency.

This content was produced with the assistance of AI translation services.