Crypto lost $2.77 billion to hacks, exploits in 2022

According to recent data from CoinGecko, $2.77 billion worth of cryptocurrencies will be lost to hacks, exploits and attacks in 2022. research.

According to CoinGecko, about 47% of this amount, worth $1.3 billion, was stolen through various methods, including market manipulation, circumventing the verification process, and exploiting small errors. report.

the most harmful way

“Cryptocurrency hackers are looking for unconventional ways to steal from projects and users,” says the report after examining attackers’ preferred methods in 2022.

As a result, we found that almost half of the total amount was stolen using new methods not included in the category.

Techniques Used in 2022 Attacks (Source: CoinGecko)
Techniques Used in 2022 Attacks (Source: CoinGecko)

The biggest heist of the year was the Ronin Bridge hack by Axie Infinity, which falls into the access control category. The attacker managed to steal over $615 million in Ethereum (ETH). This accounts for his over 58% of all access control hacks.

The second, third and fourth largest robberies of the year were in unconventional methods, according to the report.

The Solana (SOL) wormhole hack cost over $200 million, making it the second largest loss of 2022. The Nomad Bridge exploit and the Mango Markets hack cost more than $190 million and his $116 million, respectively, a year.

Exploits in 2022

The $2.77 billion lost to attackers in 2022 is the most stolen money in a year since 2013. The total amount lost by attackers in 2012 was $3.36 billion.

The chart below shows the annual total amount of cryptocurrency lost to hacks and exploits since 2018.

Attacker loss (Source: CoinGecko)
Attacker loss (Source: CoinGecko)

Losses recorded in 2022 increased by 4.2% from $2.66 billion in 2021. The chart also distinguishes the loss amounts by quarter. The first quarter of 2022 lost the largest amount to attackers at $1.26 billion. He lost more than $715 million in the second quarter, and another $398 million and he lost $395 million in the third and fourth quarters, respectively.

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