In terms of both total value taken and overall hacks, 2021 was the greatest year for blockchain-based thefts ever, according to Chainalysis.
According to Cointelegraph, blockchain analytics firm Chainalysis has branded October 2022 as “the largest month of the biggest year ever for hacking activity,” with a total compromised value of around $718 million for the month.
Nearly though the month isn’t even halfway through, Chainalysis announced that 11 different hacks on decentralized finance (DeFi) protocols have resulted in the theft of hundreds of millions of dollars.
There were four misadventures on October 11 that cost about $122 million. Hackers stole $200,000 worth of bitcoin by using a smart contract from the digital currency wallet Rabby Wallet, $1.89 million from the Ethereum bridge on the blockchain QANplatform, $2 million from TempleDAO, and a $118 million attack on the Mango Markets in Solana.
In terms of both total value taken and overall hacks, 2021 was the greatest year for blockchain-based thefts ever, according to Chainalysis. The figures from last year may, however, “definitely be surpassed” by 2022 at the present rate since more than $3 billion has been misused through 125 attacks. According to Cointelegraph, the organization claims to have seen a change in the sites of exploits as well.
Centralized cryptocurrency exchanges were the target of the great majority of attacks in 2019, but as those companies reinforced their security, DeFi protocols became the target of over 90% of hacks by 2022.
