Data from blockchain analytics firm Chainalysis shows that October was “the biggest month of the year ever for hacking activity.” The company added that crypto hackers have raked in more than $3 billion through 125 hacks so far this year.
Cryptocurrency Attack Activity Soars in October
Chainalysis shared some statistics regarding crypto hacks on Wednesday. The blockchain data analysis company explained that in 2019, most of the hacks targeted centralized exchanges. However, the majority of the targets today are decentralized finance (defi) protocols. Chainalysis wrote:
After four hacks yesterday, October is now the biggest month of the year ever for hacking… So far this month, $718 million has been stolen from exchanges defi formula through 11 different hacks.
Four hacks took place on Tuesday involving Rabby wallets, QANPlatform, Temple DAO and Mango Markets. The largest of these four exploits was the Solana-based defi protocol Mango Markets hack, which resulted in about $115 million being stolen.
“Cross-chain bridges remain a prime target for hackers, with 3 bridges broken this month and nearly $600 million stolen, accounting for 82% of this month’s losses and 64% of full-year losses,” said Chainalysis. detailed explanation:
At this rate, 2022 will likely surpass 2021 as the record year for the most hacks. To date, hackers have raked in more than $3 billion through 125 hacks.
Read more: War Spurs Crypto Operations in Russia and Ukraine, Chainalysis Report
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