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The Market Sees No Break From Rising Crypto Heists

January 3, 2023
in Fintech
Reading Time: 2 mins read

As if the loss of market stability wasn’t enough, new data points to 2022 as one of the worst crypto heists ever.

Crypto heists have cost the market $3.5 billion in 2022. crypto presales The data show one of the worst years ever.

numbers for 2022 It surpasses 2019, 2020 and 2021 combined. Combining all the numbers since records began in 2011, we see a total of $8.9 billion lost to crypto security threats.

Since 2011, there have been 500 cryptocurrency robberies worldwide. Almost 65% of these have occurred in the last two years. The monthly analysis shows that October, April and May 2022 are the worst months for cryptocurrency robberies, with around 20 reported hacks each.

Crypto robberies have skyrocketed over the past five years. His nine reported hacks in 2017 are a far cry from the 132 attacks recorded in 2021. Approximately $730 million was lost to crypto security threats in August 2021 alone. This is mostly due to singles. poly network robbery, making it the second largest crypto hack of all time at $610 million. In total, the hacker stole more than $2.7 billion from him that year.

But surprisingly, the number of attacks surged by 45% in 2022. In his 192 cryptocurrency heists last year, from cross-chain hacking him to code exploits, the hacker robbed him of $3.57 billion in investor funds.

Biggest hack of 2022

In addition to witnessing the most cryptocurrency hacks ever, 2022 also witnessed some of the largest cryptocurrency heists. In fact, three of his five biggest hacks in history happened last year.

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game-based crypto network Ronin Communication network announced the hack in March 2022. It was one of the most significant hacks on the list, and in total he had $620 million stolen.

Seven months later, hackers carried out a $570 million raid. binanceBNB chain. The October hack turned him into the third largest cryptocurrency heist to date. The hack exfiltrated over 2 billion of his BNB tokens from the cross-chain bridge.

$110 million remains irrecoverable, but the exchange’s response has stalled efforts by freezing the tokens. However, the platform’s CEO sent an email to users in late December, reassured them of the security of their assets.

This was followed by a $477 million currency crash. FTXThe November hack is the fifth-largest robbery in the crypto industry, with $1.7 billion worth of cryptocurrency lost.

An analysis by the headquarters of the cryptocurrency platform found that one in seven cryptocurrency robberies occurred in the United States.

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