Stolen Funds in Crypto Theft Plummets 54.3% to $1.7B in 2023

• Stolen funds in crypto saw a decrease of 54.3% in 2023, despite an increase in the number of crimes.
• While 2022 witnessed a loss of $3.7 billion in crypto thefts, it decreased to a mere $1.7 billion in 2023.
• North Korean hackers surged in the number of thefts, accumulating almost $1 billion in 2023. 

According to the latest Chainalysis report, the funds stolen over the last year in crypto crimes show a substantial decrease despite a surge in crimes. Reportedly, 2023 saw a loss of $1.7 billion in crypto thefts, a decrease of almost 54.3% from 2022’s $3.7 billion.

Source: Chainalysis

In addition, the report revealed that North Korean hackers like Kimsuky and Lazarus Group have shown a hike in crypto attacks in 2023. As per the record, though North Korean hackers were connected with thefts involving $1.7 billion in 2022 and $1 billion in 2023, the number of crimes rose to a high of 20 in 2023.

Source: Chainalysis

The considerable drop in the stolen funds could be traced to the drop in DeFi hacking, as per Chainalysis. In 2021 and 2022, the crypto industry witnessed a large number of DeFi attacks, resulting in increased stolen funds. In 2022 al…

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