The Coin Shark: Harvest Year for Hackers, About $2 Billion Stolen in Various Cryptocurrencies

  • Thursday, 14 July 2022 16:44
Harvest Year for Hackers, About $2 Billion Stolen in Various Cryptocurrencies? We constantly hear that the first thing we should pay special attention to when dealing with cryptocurrencies is the security of your exchange account and crypto wallet. In this statement, we can once again be convinced by reviewing the new data for 2022. They say that in the first two quarters, hackers stole about $2 billion in various cryptocurrencies. According to FinanceYahoo, in the first three months of 2022 alone, due to hacks, investors lost approximately $1.2 billion. This figure is 8 times more when compared to the same period in 2021.  In the analytical department of Altas, after their analysis, they came to the conclusion that in the first 6 months of this year, $ 2 billion has already been stolen. The prospect of the second half of the year is simply scary and makes you think. Chainalysis emphasizes that the main target of hackers is DeFi protocols, which have accounted for about 50 hacks in the last three months alone. Many of us remember the most notorious hacks of 2022  Wormhole — $325 million In early February, hackers attacked the Wormhole cross-chain protocol, which operates on the basis of the Solana network. The attackers managed to withdraw WETH tokens from the project pool, worth more than $319 million. According to the CertiK report, the hackers managed to steal at least $251 million in ETH, about $47 million in SOL, and over $4 million in USDC. Using the Solana vulnerability, hackers created 120,000 ETH (WETH) wrapped tokens and then simply exchanged them for ETH.  A few hours after the hack, in order to avoid image losses and compensation for losses, the parent company Jump Trading made a transfer of 120k ETH to the Wormhole pool. Axie Infinity - $620 million In March of this year, after a successful hacker attack, the Ethereum sidechain Ronin, created for the popular NFT blockchain game Axie Infinity, was hacked. The hackers managed to steal approximately 173,600 ETH and USDC worth $25.5 million, with a total damage of $620 million. According to the officially released report: Due to the hack, the hackers managed to gain access to 5 private keys from 9 validator nodes, which is the necessary threshold for transaction confirmation. The appetites of burglars were not limited to this. In the hope of earning much more, they opened a short position in the native Axie Infinity token. Making a bet that the panic caused by the information about the hack will collapse the price of the token. But to their dismay, the position was liquidated before the news of the hack became public. Beanstalk - $182 million In April 2022, using a flash attack, a hacker stole $182 million in Ethereum, the BEAN stablecoin and other assets. After gaining control of the network and using a quick loan tool, a large number of BEAN tokens were bought and removed from the protocol.  In fact, out of the stolen $182 million, the attacker managed to get only $80 million. The rest of the funds were used by him to repay loans and convert them. The remaining $80 million, to preserve their own anonymity, were scrolled through the Tornado Cash mixer.  Do not forget that our mistakes and frivolity can cost us a lot, sometimes everything. Do not neglect the security of your exchange account and crypto wallet.  If you decide to try your hand at the world of cryptocurrencies, do it with a trusted and reliable partner -  Bybit  CoinShark is not responsible for any content, accuracy, quality, advertising, products or other materials on this page. This article was prepared on the basis of materials from open sources. Readers should do their own research and analysis before taking any action.

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