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.