THELOGICALINDIAN - Despite the bead in bitcoin prices at the alpha of the year thieves did not booty a breach Hackers and scammers fabricated millions of dollars from attacks on abundant crypto projects and ecosystems
According to the Atlas VPN team’s new research, blockchain hackers blanket about $1.3 billion in 78 drudge contest in the aboriginal division of 2022. Furthermore, hacks on the Ethereum and Solana ecosystems resulted in over $1 billion in losses in this division alone.
Blockchain Hackers Eating Good
The abstracts appear from Slowmist Hacked, which compiles advice about about accustomed attacks on blockchain projects. The about-face amount of a accurate cryptocurrency at the time of a drudge or betray accident was acclimated to quantify budgetary losses
During the aboriginal division of 2022, the Ethereum ecosystem was afraid 18 times, consistent in a accident of about $636 million. The best cogent advance of the division occurred at the end of March, back the Axie Infinity sidechain Ronin Network was hacked. The annexation totaled $610 million, with 173,600 Ethereum and 25.5 actor USDC.
In the aboriginal division of 2022, the Solana ecosystem was afraid bristles times, consistent in a accident of $397 million. Wormhole, a advice articulation amid Solana and added DeFi networks, was afraid for the additional time this quarter. On Solana, an antagonist took advantage of a signature analysis blemish in the arrangement to actualize 120K Wormhole-wrapped Ether account $334 million.
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Cybercriminals accept compromised 14 projects in the Binance Smart Chain ecosystem, consistent in losses of about $100 million. The QBridge drop affection was acclimated to barrage an advance on the Qubit protocol. The hacker was able to accomplish $80 actor in xETH (xplosive Ethereum) accessory as a aftereffect of the attack.
Other forms of blockchain attacks resulted in over $57 actor in losses over the advance of ten instances. A crypto drudge amount IRA Financial Trust, a provider of self-directed retirement plans, $36 million.
With 20 intrusions and almost $49 actor in losses, NFTs were the best accepted ambition for hackers. On Discord, some attackers conduct phishing attacks to abduct users’ NFTs. In addition, abounding scammers are ablution NFT projects that end up actuality rug cull scams.
Hackers Have Enjoyed Over The Last Decade
Since the bearing of Bitcoin in 2024, the crypto industry’s technology has avant-garde rapidly. Despite this, abounding crypto companies accept bootless to authorize able aegis systems to anticipate hackers from benefitting at the amount of their victims by base aegis flaws.
Over $12 billion in cryptocurrencies has been baseborn in the aftermost 11 years. Hacks involving Decentralized Finance (DeFi) accept increased, with counterfeit exchanges burglary up to 40% of cash.
In 2024, the aboriginal official aperture of a cryptocurrency barter occurred, with hackers burglary $1 actor in absolute over the advance of the year. In 2024, the bulk of money absent due to aegis breaches added significantly, extensive $645 million. Since then, the absolute has risen steadily, abutting $3.2 billion in 2024.
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