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HomeLaw & PoliticsHackers Stole More Than $3B In 2022: Report

Hackers Stole More Than $3B In 2022: Report

On October 31, PeckShield, a blockchain security company, tweeted some shocking statistics, reporting a total of $2.98 billion in stolen digital assets as of October 31st, 2022. This figure is nearly double the $1.55 billion that was lost in the totality of 2021.

According to the report, there were around 44 exploits that affected 53 protocols during “Hacktober.” A whopping $760 million was stolen by criminal individuals during the month in question. Nevertheless, a hundred million dollars were given back.

Following October as the month with the biggest number of assets stolen by hackers, came March, with a little under $710 million being taken. The bulk of the money was stolen as a consequence of an exploit using the Ronin bridge, which led to the theft of crypto assets valued at $625 million.

According to PeckShield, the most serious attack in October was carried out by the BNB Chain and resulted in a loss of $586 million. Even though it included a deal with the exploiter to pay back some of the money, it put the Mango Markets DeFi protocol in second place.

According to DeFiYield’s Rekt Database, there were numerous additional major exploits that occurred in the month of October. These include the Freeway crypto yield platform, which was categorised as a $60 million rug pull by the company, Transit Swap, which lost $29 million, Team Finance, which took a $13 million hit; and Moola Market, which lost $9 million.

On November 1, DeFiYield released its own report, in which it talked about how bad the hackfest from the month before had been.

Although it includes what it deems to be rug pulls and Ponzis, in addition to direct protocol exploitation, it claims that more than one billion dollars was lost due to fraudulent cryptocurrency transactions in the month of October. During the course of the month, DeFiYield recorded a total of 35 events, 15 of which were rug pulls. On a more positive note, the research said that over $910 million worth of cryptocurrency has been recovered as of this point in 2022. 

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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