The Cryptos News | Daily Bitcoin News
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
The Cryptos News | Daily Bitcoin News
No Result
View All Result
Home Top Cryptos Solana (SOL)

Crypto hackers loot $2 billion in H1 2022 as cybercriminals thrive

Crypto hackers loot $2 billion in H1 2022 as cybercriminals thrive
Share on FacebookShare on Twitter


Crypto hackers loot $2 billion in H1 2022 as cybercriminals thrive

Although the cryptocurrency market and its flagship asset Bitcoin (BTC) have been struggling in the first half of 2022, a study has shown that this period has also seen a major uptick in criminal activity in the space. 

Since January 1, 2022, cybercriminals have managed to get away with $1.97 billion from 175 crypto project hacks, according to the data analyzed by the Atlas VPN team in a press release shared with Finbold on July 5.

The prevailing victim of these attacks was the Ethereum (ETH) ecosystem, which lost over $1 billion in 32 hacking attacks. In particular, the most damaging event was the attack on Ronin, an Ethereum sidechain designed for the popular play-to-earn blockchain game Axie Infinity (AXS), in which the cybercriminals took more than $600 million in ETH and USD Coin (USDC).

Money lost to crypto project hackers; events by target (H1 2022). Source: Atlas VPN

Other projects impacted by hacks

The analysis based on numbers provided by SlowMist Hacked, the analytics platform that gathers detailed information about disclosed cyber attacks on blockchain projects, found that second place belongs to the Solana (SOL) blockchain.

Solana suffered a loss of $383.9 million in only five incidents, the biggest of which happened through the exploit of the decentralized finance (DeFi) platform Wormhole.

In the third place is the Binance Smart Chain (BSC), whose participants were drained of $141.4 million in 47 attacks in the first half of 2022, which is the highest number of such events among all crypto projects.

At the same time, non-fungible token (NFT) projects were not safe from cybercriminals either, costing the space $84.6 million in losses in 45 incidents. Crypto exchanges were robbed of $35.8 million in four cyber attacks, while crypto wallets lost $263,382 in two incidents.

Indeed, the crypto project-related cybercrime has nearly doubled in the first half of 2022, as the number of these events rose from 90 in the first half of 2021 to 175 in the same period in 2022, or by 94%.

Cyber attacks on crypto projects by quarter (2021-2022 H1). Source: Atlas VPN

The first quarter of 2022 had 79 hacking events, which is 108% more than in the same period in 2021 which recorded 38 incidents. Meanwhile, the second quarter of 2022 recorded 96 attacks, which is an 85% growth compared to 52 in the second quarter of 2022.

Finally, the report said that the occurrence of cybercrime attacks increased by 22% or over one-fifth from the first quarter of 2022 to the year’s second quarter, with May being the worst month for crypto projects in this sense as it recorded 37 events.

Meanwhile, Finbold reported in late June that North Korea was the leader among all countries when it comes to cryptocurrency criminality in 2022, as it saw a string of 15 successful cyberattacks. The United States is close behind, with 14 verified cases of traceable crypto crime.



Read More:Crypto hackers loot $2 billion in H1 2022 as cybercriminals thrive

Tags: BillioncryptoCybercriminalsHackerslootThrive
Previous Post

Mooners and Shakers: Stablecoin flippening? USDC gains on USDT; July 4 crypto pump fizzles

Next Post

Cardano Price Analysis: ADA Holds at Critical Support, Huge Move Incoming?

Related Posts

Here’s What’s Next for Bitcoin (BTC), Ethereum (ETH) and One Altcoin That Over Exploded

Here’s What’s Next for Bitcoin (BTC), Ethereum (ETH) and One Altcoin That Over Exploded

by The Cryptos News
July 30, 2022
0

A widely followed trader is exploring the near-term outlook of the two largest-crypto assets and one altcoin that has...

This is how the crypto market, especially BTC and ETH, reacted amid latest Fed hike

This is how the crypto market, especially BTC and ETH, reacted amid latest Fed hike

by The Cryptos News
July 30, 2022
0

The Federal Reserve increased the interest rate by a further 0.75% and the crypto markets responded bizarrely. The U.S....

How to Buy Polkadot Coin | Cryptopolitan

How to Buy Polkadot Coin | Cryptopolitan

by The Cryptos News
July 30, 2022
0

Polkadot is one of the top 20 cryptocurrencies by market capitalization, and it has been gaining in popularity lately.DOT...

Mehracki Token (MKI), Binance Coin (BNB), and Cardano (ADA) – Cryptocurrencies Poised To

Mehracki Token (MKI), Binance Coin (BNB), and Cardano (ADA) – Cryptocurrencies Poised To

by The Cryptos News
July 30, 2022
0

The world of cryptocurrencies is becoming ever more popular, and the speed at which people begin trading grows more...

Next Post
Cardano Price Analysis: ADA Holds at Critical Support, Huge Move Incoming?

Cardano Price Analysis: ADA Holds at Critical Support, Huge Move Incoming?

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trending News

Payperless Crypto Wallet announced working on NFT tokens support

Payperless Crypto Wallet announced working on NFT tokens support

June 25, 2022
June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

July 14, 2022
Ripple’s Counsel Urges US Lawmakers to Urgently Pass ‘Sensible’ Crypto Legislation Amid

Ripple’s Counsel Urges US Lawmakers to Urgently Pass ‘Sensible’ Crypto Legislation Amid

July 30, 2022
ADVERTISEMENT

Investment

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

July 30, 2022
Study up and become a more informed crypto investor with this bundle

Study up and become a more informed crypto investor with this bundle

July 30, 2022
Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

July 30, 2022
Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

July 29, 2022
$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

July 29, 2022

Prices

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

July 30, 2022
Tron price prediction as Unifi Protocol TVL explodes

Tron price prediction as Unifi Protocol TVL explodes

July 30, 2022
Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

July 30, 2022

Crypto Flipsider News – Crypto Market Rally; Nirvana (NIRV) Exploited; Vasil Delayed;

July 29, 2022

Trading

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

July 30, 2022
SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

July 30, 2022
Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

July 29, 2022
FTX wins full approval to operate crypto exchange in Dubai

FTX wins full approval to operate crypto exchange in Dubai

July 29, 2022
Crypto exchange Zipmex files for bankruptcy protection in Singapore

Crypto exchange Zipmex files for bankruptcy protection in Singapore

July 29, 2022
  • About Us
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA

© 2021 Thecryptosnews.com

No Result
View All Result
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading

© 2021 Thecryptosnews.com

wpDiscuz