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Crypto Heists Surge: North Korean Hackers Responsible for 61% of $2.2B Stolen in 2024

In 2024, hackers associated with North Korea set a new record for cryptocurrency theft. Notorious for their advanced skills in malware deployment, social engineering, and crypto asset theft, these hackers often channel stolen funds into state-sponsored projects, including weapons of mass destruction and missile programs, bypassing global sanctions. In 2023, they stole around $660.5 million through 20 incidents, but this amount surged to $1.34 billion across 47 cases in 2024, marking a 102.88% increase in stolen value. North Korea Sets Crypto Theft Record in 2024 According to the latest report by Chainalysis shared with CryptoPotato , the frequency of North Korea’s cryptocurrency attacks continues to grow, even as the total number of incidents across all scales has declined year-over-year. Particularly in 2024, there was a noticeable uptick in large-scale attacks involving $50-$100 million and amounts exceeding $100 million. This suggests that North Korea is becoming more efficient in orchestrating high-value breaches, a notable change from the past two years when their attacks predominantly generated less than $50 million per incident. North Korean IT workers have increasingly infiltrated crypto and Web3 companies, compromising their systems and integrity. Using advanced tactics like false identities, third-party hiring intermediaries, and exploiting remote work opportunities, they gain access to sensitive networks. In one notable case, the US Department of Justice indicted 14 North Korean nationals who posed as remote IT employees for US companies, stealing proprietary information and extorting employers, resulting in $88 million in illicit earnings. Hacking Dominance Dips in Late 2024 While North Korea’s exploits dominate this year’s hacking statistics, the global landscape highlights the continued threat of crypto theft. Total stolen funds reached $2.2 billion in 2024, marking the fifth year in the past decade where over $1 billion was stolen. This means that North Korea accounts for 61% of the total stolen crypto for the year and 20% of all incidents. Interestingly, while hacking activity surged in the first half of 2024, with $1.58 billion stolen by July – over 84% higher than the same period in 2023 – it slowed significantly in the latter half. Data reveals a 53.73% drop in stolen funds after July 1, 2024. This decline may be tied to shifting priorities as North Korea strengthens ties with Russia and possibly redirects resources to the Ukraine conflict. However, December events or holiday attacks could still change the overall picture, the blockchain data platform warned. The post Crypto Heists Surge: North Korean Hackers Responsible for 61% of $2.2B Stolen in 2024 appeared first on CryptoPotato . The Coin Rise

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Marinade Finance Makes Strategic Investment in SuperSol

Dubai, United Arab Emirates, December 19th, 2024, Chainwire Marinade Finance Makes Strategic Investment in SuperSol to Boost Solana’s Growth and Enhance Layer-2 Capabilities. The Solana ecosystem has been witnessing rapid growth and evolution, with demand for scalability, performance, and real-time capabilities reaching new heights. This growth is driven not only by traditional decentralized finance (DeFi) applications but also by the rise of emerging sectors like GameFi (gaming on blockchain) and Decentralized Physical Infrastructure Networks (DePIN). In response to these expanding needs, Marinade Finance, a prominent self-custodial staking protocol on the Solana network, has made a strategic investment in SuperSol, the first native Layer-2 scaling solution for Solana. Marinade enables SOL holders to automatically delegate their tokens to top-performing validators in a competitive open marketplace, optimizing yields by allowing validators to share fees directly with stakers. Strengthening Solana’s Infrastructure for a New Era SuperSol, designed to significantly enhance Solana’s scalability and performance, aims to address the growing demand for efficient and reliable infrastructure that can support the next wave of decentralized applications (dApps). With a primary focus on sectors such as GameFi, which combines gaming with decentralized finance, and DePIN, which utilizes decentralized networks for physical infrastructure, SuperSol is poised to become a critical component in the future of the Solana blockchain. The investment by Marinade Finance is seen as a crucial move to help SuperSol accelerate its development and adoption. By supporting innovations like SuperSol, Marinade is positioning itself at the forefront of the efforts to improve Solana’s Layer-1 and Layer-2 capabilities, ensuring that the network can handle the next generation of dApps and meet the increasing demand for high-performance, low-cost, and scalable solutions. The Role of Marinade Finance in the Solana Ecosystem Founded in 2021, Marinade Finance has quickly established itself as one of the most prominent players in the Solana ecosystem. The platform allows users to automatically stake SOL tokens, Solana’s native cryptocurrency, while receiving mSOL, a liquid staking derivative. mSOL allows users to earn staking rewards while maintaining liquidity, enabling them to participate in other DeFi activities without locking their assets. Through this innovative approach to staking, Marinade Finance has significantly contributed to the overall growth and decentralization of the Solana network. By providing liquidity to staked assets, Marinade enables participants to earn staking rewards without locking their assets, thereby supporting both network security and a more dynamic ecosystem for decentralized finance. In addition to its core offering, Marinade has become an active participant in broader efforts to enhance Solana’s ecosystem. Its decision to invest in SuperSol is in line with its long-term vision to support projects that aim to improve Solana’s scalability and bring real-world use cases to life. SuperSol: A Key Enabler for the Future of GameFi and DePIN The main challenge facing blockchain networks like Solana has always been the need to scale in a way that maintains high throughput while minimizing costs. Solana’s high-speed and low-cost architecture has made it a popular choice for developers, but as adoption grows and more applications are built on the network, there is an increasing need for solutions that can handle even more transactions without compromising performance. This is where SuperSol comes into play. SuperSol is a Layer-2 scaling solution that builds on top of Solana’s existing architecture to offer increased scalability and enhanced performance. By utilizing SuperSol, developers will be able to create more efficient applications, particularly in GameFi and DePIN – two sectors experiencing explosive growth. In the GameFi space, where games and financial incentives are integrated on the blockchain, the need for high-speed transactions is paramount. Traditional gaming engines often struggle to meet the performance demands of real-time, immersive environments, but Layer-2 solutions like SuperSol can help ensure that these games run smoothly and cost-effectively on the Solana network. Similarly, in the rapidly growing DePIN sector, which includes applications focused on decentralizing physical infrastructure such as networks, energy grids, and other assets, scalability is critical. SuperSol’s advanced Layer-2 architecture is designed to handle the transaction loads and data requirements of such applications, making it an ideal fit for this emerging market. A Strategic Partnership with Long-Term Impact While the financial details of the investment have not been disclosed, Marinade’s support for SuperSol is more than just a monetary contribution – it’s a strategic partnership aimed at fostering innovation and ensuring the continued growth of Solana’s ecosystem. By investing in projects like SuperSol, Marinade is positioning itself as a key player in the infrastructure and scalability efforts that will shape the future of blockchain technology. The collaboration between Marinade Finance and SuperSol is a testament to the growing synergies within the Solana ecosystem. As Solana continues to attract developers and projects across a variety of sectors, the combination of robust staking solutions and scalable infrastructure will be key to meeting the demands of an increasingly complex and diverse decentralized economy. Looking Ahead: Solana’s Continued Evolution As Solana’s ecosystem matures, the need for effective Layer-2 scaling solutions will only become more pressing. SuperSol’s focus on improving Solana’s real-time performance and scalability will help address these challenges head-on, making Solana an even more attractive option for developers and users alike. The strategic investment by Marinade Finance signals confidence in SuperSol’s vision and the potential impact it will have on the network. It also highlights Marinade’s commitment to not only providing liquidity solutions through its liquid staking protocol but also actively contributing to the broader development of Solana’s infrastructure. The partnership between Marinade Finance and SuperSol is a significant step toward ensuring that Solana remains a leading blockchain platform for years to come, able to support the growing demands of decentralized applications, GameFi, and DePIN with cutting-edge performance, scalability, and reliability. About Marinade Finance Marinade Finance is a non-custodial liquid staking protocol built for the Solana blockchain. By allowing users to stake SOL tokens and receive mSOL, a liquid staking derivative, Marinade enhances liquidity and incentivizes participation in Solana’s proof-of-stake consensus. The platform is designed to make staking more accessible and flexible while supporting the broader development of the Solana network. About SuperSol SuperSol is Solana’s first native Layer-2 scaling solution, built to optimize the network’s performance and scalability. Focusing on sectors like GameFi and DePIN, SuperSol is designed to meet the increasing demands of decentralized applications by providing enhanced efficiency, reliability, and real-time performance. SuperSol is the brainchild of Eva Oberholzer, whose impressive credentials include former roles as Chief Strategy Officer at Cardano and Chief Growth Officer at ICP. With her extensive experience in protocol development, Oberholzer recognized Solana’s potential as a dominant force in the crypto world. This insight led her to tackle the ecosystem’s scalability challenges, particularly in the GameFi space. By founding SuperSol, Oberholzer aims to solidify Solana’s position as a leading asset class and drive the next wave of innovation in the blockchain industry. Contact Founder and CEO Eva Oberholzer SuperSol Labs Ltd. pr@supersol.ai The Coin Rise