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$3 billion stolen in 2022 from Hacktober, doubling in 2021

Published on

January 1, 2023
Read Time:1 Minute, 54 Second

The month of October broke all data for crypto exploits and the quantity of digital loot stolen, based on the most recent figures – dwelling as much as its new moniker “hacktober”.

On October 31, the blockchain safety agency PeckShield tweeted some scary stats for the month reporting a complete of $2.98 billion in stolen digital property as of October 31, 2022, which is almost double the $1.55 billion misplaced in all of 2021 are.

"Hackober" noticed round 44 exploits affecting 53 protocols, it added. Malicious actors made off with a whopping $760 million a month, however $100 million was repaid.

#PeckShieldAlert ~44 exploits (53 affected protocols) raised ~$760.2 million in October 2022, and ~$100 million have already returned the exploited protocols (whole loss: $657.2 million).
As of October 2022, the stolen funds (~$3B) in 2022 “doubled” final yr's loss pic.twitter.com/mKZAjVk7UU

— PeckShieldAlert (@PeckShieldAlert) October 31, 2022

After October, March was the second-highest month for hacked funds with practically $710 million stolen. Most of this got here from the Ronin Bridge exploit that resulted within the theft of $625 million in crypto property.

The highest exploit in October was by far the BNB chain, which misplaced $586 million based on PeckShield. Mango Markets' DeFi protocol was listed second, though it included an settlement with the exploiter to return a portion of the funds.

In response to DeFiYield, there have been a number of different notable exploits in October Correct database. These embody Freeway crypto yield platform, which was ranked as a $60 million rug pull, Transit Swap, which misplaced $29 million, Crew Finance, which misplaced $13 million, and Moola Market, which misplaced $9 million .

Associated: Barely half and October is the “largest month” in crypto hacks

DeFiYield has launched its personal report on November 1st, depicting the dire state of the hackfest that passed off final month.

It claims greater than $1 billion was misplaced to crypto fraud in October, although it consists of what it considers rug pulls and ponzis alongside direct protocol exploits. DeFiYield reported a complete of 35 incidents for the month, 15 of which have been rug pulls.

On the brilliant facet, the report famous that almost $890 million in crypto funds have been recovered in 2022 to this point.

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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : January 1, 2023
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