The crypto market, which recently suffered from a terrible crash, is now facing a new challenge as hacking around crypto-related platforms is rapidly increasing, making it more difficult to trust, let alone invest in these platforms.
Read CRYPTONEWSLAND onYesterday, October 12, the crypto community suffered four DeFi attacks in a day, creating a new record for the most crypto hacks in just a day. The victims were Rabby Swap, Supremacy Inc, Temple DAO, and the Solana-based platform Mango Market.
In a recent tweet, blockchain analysis platform Chainalysis unveils that October is the biggest month for crypto exploits ever.
In 2021, these digital crooks had a big year, stealing $3.2 billion from crypto-related platforms. So far, this year’s hackers have accumulated $3 billion from 125 different crypto hacks, as per the Chainalysis data. From the looks of it, it’s possible that 2022 will beat 2021 as the biggest year for crypto hackers.
In 2019, centralized exchanges have been the major target of most hackers. That began to change in 2021 after the DeFi protocols lost around $1.9 billion, leaving exchanges, platforms, and private entities with $1.3 billion in losses from hacks that year.
Furthermore, cross-chain bridges were the main target of hackers this year. These bridges, also known as blockchain bridge, connects two blockchains that will allow users to send crypto from one another. The data shows that this month lost nearly $600 million from 3 breached bridges, around 82% losses for the month and 64% losses this year, by far.
#Solana climbs higher on bullish momentum, fueled by whale activity and growing confidence. 🚀 #SOL
Hayden Adams, CEO of Uniswap, condemns low-float token strategies, and advocates for transparent distribution to…
Popular #crypto and #XRP analyst #EgragCrypto predicts a cycle peak on September 9, 2024, based…
Analyst explores Bitcoin's potential #bullmarket peak this cycle using historic activity from previous #BitcoinHalving events.…
Sui Network addresses token concerns, emphasizes transparency and third-party custody refuting Bons' claims. #SuiNetwork #Transparency…
Discover the promising cryptocurrencies that could pave the path to millionaire status in 2024. #Crypto…