Chainalysis’s figures point nearly all of this year’s losses to North Korea, while its share of the six-year total is only a little over half.
By its accounting, as of October 29, attacks suspected of being linked to North Korea accounted for nearly 89% of reported crypto hacking losses this year, compared with 15% in 2021.
Looking at the period from 2021 through October 29 this year, cumulative losses totaled $22.34 billion, of which $13.24 billion was suspected to be North Korea-related, or about 59%.
Both figures are correct; the difference is in the denominator: the 89% figure covers this year alone, while the 59% figure covers six years. The higher share is driven by average losses per incident rising from $50.65 million in 2021 to $185.65 million, about 3.7 times the 2021 level.
Next, watch average losses per incident: if they keep rising, this year’s share will climb even higher; only a fall back to around $50.65 million would show that this trend has been curbed.
#SuspectedNorthKoreanAttacksAccountForNearly89PercentOfCryptoHackingLosses
By its accounting, as of October 29, attacks suspected of being linked to North Korea accounted for nearly 89% of reported crypto hacking losses this year, compared with 15% in 2021.
Looking at the period from 2021 through October 29 this year, cumulative losses totaled $22.34 billion, of which $13.24 billion was suspected to be North Korea-related, or about 59%.
Both figures are correct; the difference is in the denominator: the 89% figure covers this year alone, while the 59% figure covers six years. The higher share is driven by average losses per incident rising from $50.65 million in 2021 to $185.65 million, about 3.7 times the 2021 level.
Next, watch average losses per incident: if they keep rising, this year’s share will climb even higher; only a fall back to around $50.65 million would show that this trend has been curbed.
#SuspectedNorthKoreanAttacksAccountForNearly89PercentOfCryptoHackingLosses
