Crypto Hacking Losses Exceed $990M in 2023; Blockchain Analysis and Open-Source Intel Help Track Stolen Funds

Security threats like hacking remain a major concern in crypto, with over $990 million lost in 2023. The Lazarus Group was responsible for major losses.

Blockchain analysis helps track stolen funds by tracing transactions, clustering addresses, analyzing behavior, recognizing patterns, collaborating with authorities, and more.

Open-source intelligence is another tool investigators use, gathering info on entities involved in a hack via online sources.

In a recent case, a hacker returned $8.9 million to exploited protocols, showing unique motivations in crypto breaches.

On-chain data provides a window into asset movements for protection and risk analysis. The Cointelegraph Research team offers insights.