Crypto Hackers Gross Over $3 Billion From 125 Hacks so Far This Year

Crypto Hackers Gross Over $3 Billion From 125 Hacks so Far This Year

Data from blockchain analytics firm Chainalysis shows that October is “the biggest month in the biggest year ever for hacking activity.” The firm added that crypto hackers have grossed over $3 billion across 125 hacks so far this year. Crypto-Hacking Activity Soars in October

Chainalysis shared some crypto-related hacking statistics Wednesday. The blockchain data analytics firm explained that back in 2019, most hacks targeted centralized exchanges. However, a vast majority of targets are now decentralized finance (defi) protocols. Chainalysis wrote: After four hacks yesterday, October is now the biggest month in the biggest year ever for hacking activity … So far this month, $718 million has been stolen from defi protocols across 11 different hacks. Total value hacked and number of hacks by month. Source: Chainalysis

The four hacks that took place on Tuesday involved Rabby wallet, QANPlatform, Temple DAO, and Mango Markets. The biggest exploit of the four was the Solana-based defi protocol Mango Markets hack which saw about $115 million stolen.

“Cross-chain bridges remain a major target for hackers, with 3 bridges breached this month and nearly $600 million stolen, accounting for 82% of losses this month and 64% of losses all year,” Chainalysis detailed, elaborating: At this rate, 2022 will likely surpass 2021 as the biggest year for hacking on record. So far, hackers have grossed over $3 billion dollars across 125 hacks. Tags in this story Chainalysis, crypto hack stats, Crypto hacks, crypto hacks statistics, cryptocurrency hacks, decentralized finance, defi hacks, Defi protocols, Hackers

What do you think about the findings by Chainalysis? Let us know in the comments section below. Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Strategist at Southeast Asia"s Largest Bank DBS Says Bitcoin Is Unique Regardless of Price FEATURED | 6 hours ago Elon Musk Presently Under Investigation by Federal Authorities, Twitter Informs Judge FEATURED | 8 hours ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleStrategist at Southeast Asia’s Largest Bank DBS Says Bitcoin Is Unique Regardless of Price Next articleWar Spurs Crypto Activity in Russia and Ukraine, Chainalysis Reports Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItUAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse

United Arab Emirates (UAE) airliner, Emirates, has announced plans to launch non-fungible tokens (NFT) and experiences in the metaverse for its workers and customers. The launch aligns with UAE"s digital economy and virtual assets initiatives. First Projects Already Underway The ... read more.Fed"s Bullard Wants to Raise Bank Rate to 3.5% by Year"s End, Hints at 75 Basis Point Rate Hike FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin