Home / News & media website / Financial / Crypto Hackers Stole R65 Billion In 2022


Online hackers made a killing last year by stealing around R35 billion.

March and October showed huge spikes with the latter being the biggest single month ever for cryptocurrency hacking. During 32 separate attacks, a total of R13 billion was stolen in October alone.

While 2022 was a great year for hackers, it was the opposite for the rest of the crypto world.

News24 reports that the cryptocurrency market floundered in 2022, as risk appetite diminished and various crypto firms collapsed. Investors were left with large losses and regulators stepped up calls for more consumer protection.

North Korea-based hackers broke their own records as they stole even more than previous years.

It is believed that the hackers in North Korea are funded by the government as it has been rumoured for years that the country fund its missile and nuclear programmes through funds stolen by hackers.

The United States has had its eye on North Korea for years and in 2022 it managed to seize R524 million in stolen funds from hackers linked to North Korea.

With the numbers climbing, more countries are becoming aware of the real that that crypto hackers pose. Not only do they target consumers, but also public and state-owned enterprises.

Image credit: The Times Of Israel

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