Hackers Stole More Than $1.97 Billion From Crypto Platforms During H1 2022, Report Reveals

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Hackers Stole More Than $1.97 Billion From Crypto Platforms During H1 2022, Report Reveals By Angel Di Matteo @shadowargel

The report details that only the projects that operate on the network of ethereum they lost about USD $1,014 million, and warns that the number of attacks increased compared to 2021.

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  • Targeted attacks on 175 crypto projects resulted in the theft of $1.97 billion.
  • Projects on Ethereum were the ones that lost the most capital.
  • BNB Chain and Solana are also listed as the networks where there were the most attacks.
  • They warn about an increase in attacks compared to what was seen in 2021.

A new report reveals that throughout the first half of 2022, hackers and criminals have managed to steal around $1.97 billion in crypto through fraudulent projects within the digital currency space.

More than $1.97 billion stolen in the first quarter of 2022

This is evidenced by a report prepared by the cybersecurity firm atlas vpn, which I publish today a press release in which it presents some key measures on the behavior of scammers and thefts of digital currencies, especially highlighting some important events that even came to shake the crypto market with force.

In the first place, what stands out is the global figure stolen by criminals within the crypto sector, which adds up to more than USD $1.97 billion throughout the first half of 2022. This calculation groups together the amounts stolen from more than 175 projects within the crypto space, being the ecosystem that operates on ethereum the one that registered the most pronounced losses.

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Within the ecosystem of ethereum, the report details that here alone there were losses of more than USD $1,014 million through 32 attacks perpetrated by hackers. The most notable was the one carried out by criminals against Ronin, the network of the operators of the popular game Axie Infinitywhere attackers stole more than $600 million in funds ETH Y USDC.

Another interesting detail comes to the fore when comparing the states of the networks Solarium Y BNB Chain:

  • In the first case, the network was the victim of about five attacks, but these resulted in the theft of about USD $383.8 million. Here he especially highlights the events of which he was a victim wormhole, the decentralized financial services platform.
  • while with the blockchain of Binance there were losses of more than USD $141.3 million derived from some 47 hacks.

Cyber ​​attacks are on the rise

Among other interesting details, we have that globally during the first quarter of 2022 there were some 79 major hacking events, a figure that represents an increase of 108% compared to the same period in 2021. For the second quarter the number of attacks rose and it was located in about 96 incidents, rising by 85% compared to what was seen between April and June of last year.

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Delving deeper into this, the report detailed that the worst month in terms of cyberattacks was May, where a total of 37 criminal events were recorded. It is worth noting that at this time it was when the cryptocurrency market suffered significantly from the fall of the Terra ecosystem, since its stablecoin UST could not maintain parity with the US dollar due to the drop in the price of the main cryptocurrencies and dragging with it MOON.

It is also important to mention that various organizations have called attention to the increase in criminal events associated with cryptocurrencies in recent years, especially ransomware-type attacks and the payment of ransoms with digital currencies.

Let us bear in mind that in March of this year the US president, Joe Biden, signed an executive order in which he urged all government agencies to coordinate efforts to analyze and monitor the ecosystem of digital currencies. These entities must submit a report outlining the risks and benefits that such assets could entail for the local economy and for its residents, with special emphasis on protecting the rights of citizens.


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Angel Di Matteo version / DailyBitcoin

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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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