$3 Billion worth of Crypto Stolen in 2022 – Here’s What You Need to Know | Techno Glob


Source: AdobeStock / Sergey Nivens

Over $3 billion worth of crypto has been stolen by hackers so far in 2022, with more than $760 million seized in October alone, according to a security firm.

Significant losses from hacking and protocol exploitation were reported on Twitter on Monday by blockchain security company PeckShield, with the firm saying that losses this year have already doubled compared to last year.

In 2021, $1.55bn was stolen by hackers, while only $0.25bn was lost to hackers in 2020, according to data from PeckShield.

Notably, Peckshield also pointed out that some hackers return the stolen money. It’s a practice that’s quite common in the crypto world, where some hackers have shown that they’re more interested in exposing protocol vulnerabilities than enriching themselves.

About $100m of the $760.2m stolen in October has already been returned, the firm said.

In terms of protocols that have been hit the hardest by hacking in the past month, BNB Chain (formerly Binance Chain/Binance Smart Chain) has been the biggest loser as a blockchain. For the month of October, the BNB chain lost a whopping $586m, more than double the amount lost to hacking across all protocols in 2020, data from PeckShield showed.

Coming in second is Solana-based DeFi lending platform Mango Markets with a loss of $48m, after the hackers behind a $100m exploit in mid-October recovered more than half of the money stolen.

“Last week I joined a team running a highly profitable trade strategy,” Avraham Eisenberg, a member of the group behind the mango exploit, admitted in a tweet at the time. “I helped negotiate a settlement agreement with the insurance fund with a view to making all users whole […]Eisenberg added.

Third on the list of the biggest hacks in October came decentralized exchange (DEX) aggregator Transit Swap, which lost $23 million in the hack — before recovering $16.1 million.

“Due to the joint efforts of all parties, the hacker has recovered about 70% of the stolen assets,” the team behind Transit Swap said. wrote on Twitter at the time, asking the hacker to personally contact the team to return the funds.





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