Hackers stole $3.8 bn from crypto investors in 2022
Cross-chain bridges are protocols that let users port their cryptocurrency from one blockchain to another, usually by locking the user’s assets into a smart contract on the original chain, and then minting equivalent assets on the second chain.
“If a bridge gets big enough, any error in its underlying smart contract code or other potential weak spot is almost sure to eventually be found and exploited by bad actors,” said the report.
North Korea-linked hackers such as those in cybercriminal syndicate Lazarus Group have been by far the most prolific cryptocurrency hackers over the last few years.
In 2022, they shattered their own records for theft, stealing an estimated $1.7 billion worth of cryptocurrency across several hacks, the report said.
Most experts agree the North Korean government is using these stolen cryptos to fund its nuclear weapons programmes.
