$ 1.5 billion in the top 5 crypto robberies from 2022: Forbes

$ 1.5 billion in the top 5 crypto robberies from 2022: Forbes

cryptocurrency companies had major problems in 2022 because several companies were faced with financial problems and bankruptcy. In addition to these challenges, over $ 3 billion was stolen from crypto projects this year. These setbacks have led to turbulence in the industry and aroused concerns about their stability.

according to the report, crypto projects were testified by more than 125 hacks, and the five biggest raids (all with defi protocols) made $ 1.48 billion of the stolen total amount.

Defi protocols in 2022 suffered the most losses

Forbes emphasized that these five biggest crypto robberies of cross-chain hacks, code exploits and flash loan attacks are sufficient.

The five best hacks are The $ 625 million exploit by Ronin Network of the 325 million theft of Wormhole, the 190-million dollar hack from Nomad Bridge, the 182-million-light flash. Beanstalk Farms and The $ 160 million Exploit from Wintermute .

according to the report, defi hacks make up around 49 % of the total amount, which was stolen by Hackern this year. This has led to lower investments in this sector, since data from the blockchain analysis company Elliptic show that Defi protocols have lost 75 % of their total blocked value (TVL) in 2022. However, this also explains the falling assets.

Data from Defi Llama also show that TVL from defi protocols from 166.58 billion in early 2022 dropped to $ 39 billion in December.

The Forbes report found that cross-chain-bridges, which enable the exchange of tokens between blockchains, were the main goal of hackers this year. Hackers stole almost $ 2 billion of blockchain bridges, which made 70 % of all crypto theft in 2022.

hacker love defi

The reports also show that Defi has become a popular playground for hackers despite his uniqueness. But how does that work?

The blockchain analysis platform Chainalysis reported that most thefts in the defi area are due to faulty codes in which intelligent contract errors were used to steal money from protocols.

The report said that since the defi ecosystem is open source, everyone, including hackers, can search for weaknesses or mistakes and plan exploits long in advance.

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