These protocols can be vulnerable to attacks as has been seen in 2022, particularly in cross-chain bridges. The data is in for 2022, from TradingPlatform.com and it shows highly skilled hacking groups, such as the Lazarus Group are responsible for some of the thefts, but, North Korea is responsible for the theft of almost 1 billion worth of crypto in 2022 alone.
TradingPlatform.com’s analyst Edith Reads, reports in a statement “There has been a series of attacks on DeFi platforms. The attacks are well organized and coordinated. However, there are measures in place by different players in the crypto space to overcome this. More than $30 million in stolen crypto has been recovered from North Korean hackers, which gives hope. It is a win for the crypto enthusiast. It will boost confidence among crypto investors and even attract those with reservations about crypto security.”
The work of criminals has been decreasing in the crypto space
One of the more alarming trends is that despite the general reduction in the overall value of digital assets, crypto criminal activity looks more robust. According to TradingPlatforms.com, illegal transactions by 15%, yet lawful transactions fell at more than double that rate, around 35%.