Analytics firm Chainalysis has released encrypted insights into crypto hacking in 2022. The figures provided by the company point to 125 crypto hacks that earned hackers more than $3 billion in 2022. Furthermore, Chainalysis claims that October is the biggest month in terms of crypto hacks.
3 billion dollars stolen so far in 2022
The cryptocurrency market has been slowing down since the beginning of this year. This is not the case with crypto hacking, which is booming according to Chainalysis.
The analytics firm reported that since the beginning of this year, 125 crypto hacks have been recorded. These hacks have stolen more than $3 billion.
The company further estimates that if hacks continue at this rate, 2022 could surpass 2021 in terms of stolen funds.
In its analysis, the company also reveals that in 2021 and 2022, it is the DeFi protocols that are currently the preferred target of hackers. Before 2020, it was much more about centralized exchanges.
11 hacks in the first 11 days of October 2022
The month of October 2022 is not short of hacks. Rabby, QANPlatform, Temple DAO and Mango Markets, the hacks just keep coming.
The Solana-based DeFi Mango Markets protocol hack resulted in the theft of approximately $115 million.
In 11 days, the month of October 2022 recorded more than 11 hacks, or +$718 million!
The numbers provided by Chainalysis show how security is a major challenge in the cryptocurrency industry. Cryptoinvestors should be aware of this and take proper measures to protect themselves from this scourge. While we wait for our next guide on security, feel free to review the basics with our Metamask guide and our guide on the best Cardano wallets.
I dream of a world where every citizen has total control over themselves, including their finances. I believe that Bitcoin is one of the tools that will achieve this revolution. Since 2019, I am learning about this cryptocurrency and spreading the word around.