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Blockchain analytics agency Chainalysis says 2022 was “the most important 12 months ever for crypto hacking,” with $3.8 billion stolen from cryptocurrency companies. The agency added that decentralized finance (defi) protocol hacks accounted for 82.1% of all cryptocurrency stolen by hackers through the 12 months.
Crypto Hacking Hit File Excessive in 2022
Blockchain analytics agency Chainalysis revealed a piece of its upcoming 2023 Crypto Crime Report on Wednesday, stating:
2022 was the most important 12 months ever for crypto hacking, with $3.8 billion stolen from cryptocurrency companies.
The agency defined that crypto hacking exercise considerably elevated in March and peaked in October — the month which “grew to become the most important single month ever for cryptocurrency hacking, as $775.7 million was stolen in 32 separate assaults,” Chainalysis described.
The agency added that “82.1% of all cryptocurrency stolen by hackers — a complete of $3.1 billion” got here from decentralized finance (defi) hacks. Noting that this proportion was up from 73.3% in 2021, the agency identified that $3.1 billion of 64% got here from cross-chain bridge protocols particularly.
Chainalysis additionally detailed that “North Korea-linked hackers … have been by far probably the most prolific cryptocurrency hackers over the previous few years,” elaborating:
In 2022, they shattered their very own information for theft, stealing an estimated $1.7 billion price of cryptocurrency throughout a number of hacks we’ve attributed to them.
Furthermore, the blockchain analytics agency acknowledged that North Korea-linked hackers stole $1.1 billion of that quantity from defi protocols, making North Korea “one of many driving forces behind the defi hacking pattern that intensified in 2022.” Apart from defi protocols, Chainalysis famous that “North Korea-linked hackers additionally are likely to ship massive sums to mixers, which have sometimes been the cornerstone of their cash laundering course of.”
The agency additional detailed that “For a lot of 2021 and 2022, North Korea-linked hackers nearly completely used Twister Money to launder cryptocurrency stolen in hacks.” Ethereum mixer Twister Money was sanctioned by the U.S. authorities in August final 12 months.
What do you consider hackers stealing $3.8 billion from cryptocurrency companies final 12 months? Tell us within the feedback part beneath.
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