According to data from blockchain analytics firm Chainalysis, hack attacks totaling $720 million took place in October 2022.
Security is one of the most important issues for countries and crypto companies. So much so that while countries have to increase their sanctions due to security problems, companies also face attacks. Hack attacks on many DeFi protocols, along with the BNB Chain and Mango Markete attacks in the past days, played a leading role in the creation of new data.
The Most Attacks in 2022 Happened in October
Most attacks in 2019 were on centralized cryptocurrency exchanges. This year, however, things are moving in a different direction. The vast majority of hacks in 2022 took place on DeFi protocols.
According to Chainalysis data, $718 million has been stolen from DeFi protocols in 11 different attacks so far this month. 82 percent of October losses occurred in cross-chain bridges. The largest of these bridge hacks was a nearly $100 million attack on crypto exchange Binance’s bridge between BNB Smart Chain and Beacon Chain.
1/ After four hacks yesterday, October is now the biggest month in the biggest year ever for hacking activity, with more than half the month still to go. So far this month, $718 million has been stolen from #DeFi protocols across 11 different hacks. pic.twitter.com/emz36f6gpK
— Chainalysis (@chainalysis) October 12, 2022
Chainalysis noted that 2021 is the biggest year for blockchain-based hacks on record, in terms of both the total value hacked and the total number of attacks. However, he said that 2022, with losses of over $3 billion in 125 different attacks, could likely exceed 2021.
35185
