New Blockchain Security Stats: $3 Billion Worth of Crypto Stolen in 2022 – Here’s What You Need to Know


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New Blockchain Security Stats: $3 Billion Worth of Crypto Stolen in 2022 – Here’s What You Need to Know

Source: AdobeStock / Sergey Nivens

An enormous $3bn price of crypto has been stolen by hackers to this point in 2022, with over $760m grabbed in October alone, a safety agency has mentioned.

The important losses due to hacking and protocol exploits was reported by the blockchain safety firm PeckShield on Twitter on Monday, with the agency saying losses this yr have already doubled in contrast to final yr.

In 2021, $1.55bn had been stolen by hackers, whereas simply $0.25bn had been misplaced to hackers in 2020, in accordance to PeckShield’s information.

Notably, PeckShield additionally identified that some hackers do return stolen funds. This is a observe that has been fairly widespread in the crypto world, the place some hackers have proven that they’re extra in exposing protocol vulnerabilities relatively than enrich themselves.

Out of the $760.2m stolen in October, round $100m has already been returned, the agency mentioned.

In phrases of which protocols have suffered probably the most from hacking final month, BNB Chain (previously Binance Chain/Binance Smart Chain) stood out because the blockchain that misplaced probably the most by far. For the month of October, BNB Chain misplaced a whopping $586m, greater than twice the quantity misplaced to hacking throughout all protocols in all of 2020, PeckShield’s information confirmed.

Coming in second was the Solana-based DeFi lending platform Mango Markets with a loss of $48m, after hackers behind a $100m exploit in mid-October returned greater than half of the stolen cash.

“I was involved with a team that operated a highly profitable trading strategy last week,” Avraham Eisenberg, a member of the group behind the Mango exploit, admitted in a tweet on the time. “I helped negotiate a settlement agreement with the insurance fund with the goal of making all users whole […],” Eisenberg added.

Third on the checklist of the largest hacks in October got here the decentralized alternate (DEX) aggregator Transit Swap, which misplaced $23 million in a hack – earlier than $16.1 million was returned.

“With the joint efforts of all parties, the hacker has returned about 70% of the stolen assets,” the crew behind Transit Swap wrote on Twitter on the time, whereas asking the hacker to personally attain out to the crew to coordinate a return of the funds.

Compiled by Coinbold

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