Crypto hackers stole a record US$3.8 billion in 2022, mostly from DeFi and cross-chain bridges: Chainalysis

[ad_1]

Hackers stole at least US$3.8 billion in cryptocurrencies throughout 2022, a record year for crypto heists, blockchain forensics firm Chainalysis reported on Wednesday.

See Related Article: DOJ and FBI Hack Hive Network and Save US$130 Million from Crypto-Ransomware Attacks

Fast facts

Decentralized finance (DeFi) platforms were a favorite target for cybercriminals, accounting for over 82% of stolen cryptocurrencies in 2022, according to the report.

DeFi offers access to financial instruments directly through blockchain and smart contracts rather than through intermediaries such as brokerages, exchanges or banks.

Of the funds stolen from DeFi protocols last year, 64% came from cross-chain bridges, which are blockchain infrastructure that allows investors to use crypto assets from one blockchain on another blockchain.

According to Chainalysis, hacking activity saw sudden spikes, with October seeing $775.7 million in funds stolen in 32 separate attacks, making it the most successful month for crypto hackers. currency.

Top hack culprits included sophisticated cybercriminal syndicates linked to North Korea, such as the Lazarus Group, which stole an estimated $1.7 billion worth of crypto assets in multiple attacks last year, the report said. .

Despite record year for hacks, US law enforcement managed to recover around US$30 million in stolen funds from North Korean-linked hackers, the first crypto recoveries from North Korean cybercriminals .

See Related Article: FTX Claims $415M worth of Crypto Has Been Hacked Since Bankruptcy Filing

[ad_2]