The amount of
money stolen
from
cryptocurrency hacks
has increased by
60
% in the first 7 months of
2022
.
In the same period last year, hackers stole
$1.2 billion
from various businesses and organizations.
DeFi applications
are financial platforms that enable crypto-denominated
lending outside
of traditional banks.
$5 million
was stolen from several
Solana
wallets in the first week of August.
Chainalysis
believes that
DeFi protocols
are uniquely vulnerable to
hacking
.
A large amount of the money stolen from
DeFi protocols
has been attributed to
North Korea's hacking unit
,
Lazarus Group.
North Korea-affiliated
groups have stolen approximately
$1 billion of cryptocurrency
from DeFi protocols this year.
The blockchain intelligence firm saw a sharp
65% decline
through July in line with the slump in
digital asset prices
.
Scammers
may impersonate businesses and offer fraudulent
crypto coins
or tokens.
The
Chainalysis
director of research said that scams are down because of the
crypto downturn and law enforcement wins
.
The
crypto market
capitalization has decreased by more than
50% from the beginning
of the year.
The amount of
money scammed in 2022
was the lowest in
4 years
, possibly because the value of
Bitcoin has stabilized
.
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