- Chainalysis has released a new report showing that hackers have turned their focus to centralized crypto exchanges
- Chainalysis revealed that hackers are applying for jobs at targeted companies
- Malicious actors in the crypto scene have already pocketed over $1.5 billion so far this year
Malicious actors in the crypto and web3 scene plan to increase their attacks on crypto projects, especially centralized exchanges. A report by blockchain analysis firm Chainalysis has disclosed that hackers are now applying for jobs at targeted companies. Crypto hackers and scammers have pocketed over $1.5 billion so far this year, a figure that’s likely to increase significantly if their new mission bears fruit.
Hackers are Applying for IT Jobs
According to Chainalysis, some of the malicious actors looking for IT jobs at targeted companies are North Korean hackers. These hackers are “increasingly leveraging off-chain methods” to infiltrate crypto projects.
📣 Part 1 of our mid-year #cryptocrime update is here! 🔎 Illicit on-chain activity dropped by nearly 20% YTD, but stolen fund activity is surging and ransomware payments are breaking records. Read our blog for a detailed analysis. https://t.co/WRGG91mpFP
— Chainalysis (@chainalysis) August 15, 2024
The blockchain analysis firm also noted that malicious crypto activities have dropped by close to 20% year-to-date, adding that legitimate activities in the space have been on the rise within the same timeframe.
The report revealed that the amount stolen so far in 2024 has increased by over 80% from what was stolen within the same period in 2023, with the average amount stolen per incident rising by about 79%. Chainalysis however noted that the number of hacking incidents has largely stayed the same as in 2023.
The Chainalysis report observed that malicious actors are also increasingly turning to ransomware, adding that this year is on track to become “the highest-grossing year yet for ransomware payments.”
Ransomware Payments Rise from $200,000 to $1.5 Million
Chainalysis disclosed that malicious actors are conducting fewer ransomware attacks but demanding large payments. The average ransomware payment has increased from around $200,000 to $1.5 million between January 2023 and June this year.
The report comes three months after ImmuneFi revealed that hackers considering decentralized projects easy targets shifting their focus from centralized crypto projects.
With hackers seeking IT jobs on target companies, it’s likely the amount stolen in 2024 will be higher since employees can easily surpass a platform’s security checks.
