Barely halfway and October’s the ‘biggest month’ in crypto hacks: Chainalysis

Barely halfway and October’s the ‘biggest month’ in crypto hacks: Chainalysis

While 2021 was the biggest year on record for crypto hacks, 2022 could “likely” beat the record “at this rate” according to Chainalysis. Blockchain analytics firm Chainalysis has labeled October 2022 as “the biggest month in the biggest year ever for hacking activity” with the total hacked value for the month nearly reaching $718 million.Despite not being more than halfway through the month, Chainalysis said 11 different hacks on decentralized finance (DeFi) protocols had seen hundreds of millions exploited.Four exploits alone took place on Oct. 11 worth around $122 million. Hackers....


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Barely halfway and October already the biggest month in crypto hacks: Finance...

Blockchain analytics firm Chainalysis has labeled October 2022 as “the biggest month in the biggest year ever for hacking activity." Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.October is historically associated with the bulls, but in 2022, the month has also become the leader in crypto hacks as barely halfway through, and the DeFi ecosystem has already seen nearly a dozen hacks resulting in losses of hundreds of millions of dollars.The largest hack occurred....

Chainalysis: Almost $2 Billion Have Gone To Crypto Hacks This Year

According to a report published on Tuesday by blockchain analysis company Chainalysis, a remarkable $1.9 billion worth of bitcoin was stolen in hacks of various services in the first seven months of this year, representing a 60% rise from the same time in the previous year. DeFi Saw Huge Cases Of Hacks, Chainalysis Reports Even […]

Crypto Hackers Gross Over $3 Billion From 125 Hacks so Far This Year

Data from blockchain analytics firm Chainalysis shows that October is “the biggest month in the biggest year ever for hacking activity.” The firm added that crypto hackers have grossed over $3 billion across 125 hacks so far this year. Crypto-Hacking Activity Soars in October Chainalysis shared some crypto-related hacking statistics Wednesday. The blockchain data analytics firm explained that back in 2019, most hacks targeted centralized exchanges. However, a vast majority of targets are now decentralized finance (defi) protocols. Chainalysis wrote: After four hacks yesterday,....

Hodlers prefer centralized exchanges over DeFi for security: Chainalysis

Security remains a perennial concern for DeFi protocols, but DeFi will still inevitably “grow and flourish,” Bitfinex chief technology officer Paolo Ardoino believes. Despite the rise of decentralized finance (DeFi), cryptocurrency investors appear to be sticking to centralized exchanges (CEXs) over DeFi tools, according to a new report.Crypto investors are more comfortable holding their assets on CEXs because decentralized exchanges are still more vulnerable to the threat of hacks. This is according to a joint report by the blockchain data firm Chainalysis and Bitfinex exchange, issued on....

$2B in crypto stolen from cross-chain bridges this year: Chainalysis

The $190 million Nomad Bridge exploit is just the latest out of 13 separate bridge attacks in 2022 so far. Cross-chain bridge hacks have accounted for 69% of the total crypto stolen in 2022, amounting to $2 billion in losses, according to a new report. The report comes from blockchain analytics firm Chainalysis on Aug. 2, noting there have been 13 separate token bridge hacks this year — the most recent being the $190 million Nomad Bridge exploit.Q1 2022 was by far the quarter that saw the most amount of crypto stolen since 2021, due mainly to the Ronin Bridge Attack in late March, which....