How Crypto World is Getting Better Against Hackers?

Jawad Hussain
3 min readJan 25, 2024

In the constantly evolving landscape of cryptocurrency, security remains a paramount concern. The year 2023 marked a significant shift in this ongoing battle against cybercrime.

How Crypto World is Getting Better Against Hackers?

According to a Chainalysis report, the total amount stolen from cryptocurrency platforms dropped to approximately $1.7 billion, a substantial decrease of 54.3% from the previous year. This decline in financial losses to hackers indicates a strengthening of security measures within the crypto world.

Persistent Threat, Evolving Defense

Cyber attacks have long been the Achilles heel of the cryptocurrency industry. These security breaches not only lead to financial losses but also cast a shadow of doubt over the reliability and safety of crypto platforms. This skepticism is a key reason for the wary stance of regulators worldwide. Despite the reduction in stolen funds, the number of individual hacking incidents actually increased, rising to 231 in 2023 from 219 in 2022. This paradox highlights a critical trend: while attacks are becoming more frequent, their financial impact is lessening.

North Korea-Linked Hacks: A Distinctive Pattern

A notable aspect of these cyber attacks is the involvement of North Korea-linked organizations…

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Jawad Hussain

A seasoned wordsmith with a special passion for content writing, existing in the creative world for more than 20 years.