Scammers and hackers have gotten away with $119 million in crypto since January, CrystalPlatform says. baidakova reports
Most of the attacks have targeted vulnerabilities in the code and design of decentralized protocols, which reflects a larger trend in play since 2021: Decentralized finance has been much more popular among hackers than centralized exchanges .
DeFi protocols were hacked 13 times more than centralized ones in 2022, according to Crystal. The biggest was an attack on the Ronin cross-chain bridge in March 2022, in whichLast year, $4.17 billion were stolen in 199 incidents, the firm said, a higher estimate than Chainalysis' data showing stolen in 2022. With time, as more information about criminal activity emerges, these estimates may grow, Chainalysis said when it released the data in February., when project founders disappear with users’ funds. In 2022, 48 such scams occurred, 41 of them pulled off in the second half of the year, the report says.
Since 2011, more than $16.7 billion worth of cryptocurrency has gone missing in various hacks and scams. U.S.-based companies and projects appear to be targeted most often. But China is home to the most value lost to scams, with $2.25 billion stolen in 2019 from investors in the infamous
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