Crypto thefts by DPRK-linked hackers surged to $1.34 billion in 2024 — more than double the previous year and the highest annual total ever recorded. On February 21, DPRK’s Lazarus Group pulled off the largest crypto heist in history, stealing nearly $1.5 billion worth of ether from Bybit — exceeding last year’s total in a single attack. With threats escalating, how can the crypto community best defend itself against sophisticated state-backed cybercriminals? Here’s how industry leaders are staying ahead:

• Web2 security practices: Implement Endpoint Detection and Response (EDR) tools like SentinelOne and Crowdstrike, isolate signing computers from the internet, secure devices connecting to cold wallets, and use Hardware Security Modules (HSMs) to protect API keys.
• Web3 security practices: Establish strict signer communication protocols, use Multi-part Computation (MPC) wallets to eliminate single points of failure, enforce wallet-level policy controls, use transaction validations, and implement real-time on-chain monitoring and response like Chainalysis’ Hexagate to proactively detect and block malicious transactions.
• Off-chain vigilance: Recent security breaches and thefts have been linked to DPRK nationals infiltrating crypto companies via fraudulent remote work schemes. Protect your organization by conducting rigorous background checks, continuously monitoring networks for anomalies, and training employees to detect social engineering threats.

Learn more about how exchanges and other ecosystem participants can take action today to proactively defend against cyberthreats.

Last Friday, the U.S. Department of Justice (DOJ), alongside authorities in Germany and Finland, dismantled Garantex — a notorious Russian crypto exchange that facilitated cybercrime on a global scale. Sanctioned by the U.S. Treasury in 2022, Garantex processed at least $96 billion since 2019, serving as a main laundering hub for ransomware gangs, darknet markets, and other sanctioned entities. This historic takedown highlights the power of international collaboration and blockchain intelligence tools like Chainalysis. We will continue to monitor where Garantex’s illicit client base might move and any emerging replacements. Read more.

CEO Jonathan Levin was featured on CNN Marketplace Middle East sharing insights on what the Bybit attack could mean for the crypto industry at large.

Jason Somensatto, Head of Policy for North America, appeared on Bloomberg Asia, discussing the White House Crypto Summit and the Trump administration's potential impact on the APAC region.

Arushi Goel, Head of Policy for MENA, authored a piece for Finance Middle East, detailing how legacy banks can move up the crypto maturity curve.

Illicit on-chain activity surged last year. What does this mean in the context of enforcement and geopolitical shifts? The Chainalysis 2025 Crypto Crime Webinar Series provides a closer look at the growing threat landscape, with expert insights from our research team.

Part One: National security threats — including cybercrime, darknet markets, and extremist financing. Register to view on demand.
Part Two: Compliance risks, scams, market integrity, and consumer protection challenges. Held on Mar 13 & Mar 18.

Multiple sessions are available to accommodate different time zones. Reserve your spot today.

Crime

Alleged co-founder of Garantex Aleksej Besciokov arrested by authorities in India

California man charged in connection with crypto scam after attempting to collect a large sum from an elderly victim’s home

Kent Police issue urgent warning after a crypto scam where fraudsters impersonated officers, costing nine victims a combined £1M

REGULATION

The U.S. OCC issues clarification on the range of crypto activities that are permissible in the federal banking system

Cboe files amended documents seeking permission to enable staking in ether ETFs, in a move that could mark a policy shift for the U.S. SEC under new leadership

Central Bank of Russia proposes allowing certain wealthy investors to purchase cryptocurrency, further easing crypto restrictions amid Western sanctions

ADOPTION

Deutsche Boerse to launch crypto custody and settlement services for institutions this year amid growing demand

European Central Bank (ECB) targets October 2025 to complete testing of digital euro

Bolivia to use crypto for energy imports in the face of dollar and fuel shortages, according to a Reuters report

Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries. Our data powers investigation, compliance, and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases and grow consumer access to cryptocurrency safely. Backed by Accel, Addition, Benchmark, Coatue, GIC, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.