This Crypto Sector Made the Biggest Losses In Crypto Thefts So Far in 2022

This Crypto Sector Made the Biggest Losses In Crypto Thefts So Far in 2022

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This Crypto Sector Made the Biggest Losses In Crypto Thefts So Far in 2022

CoinGape2 months ago
CryptocurrencyCryptocurrency
HydraHydra
SolanaSolana
Published on August 17, 2022 05:13 GMT+00:00edited on August 17, 2022 17:04 GMT+00:00

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Cryptocurrency market hacks have been on a rampant rise so far this year in 2022. As per the latest Chainalysis report, the decentralized finance (DeFi) sector has been the biggest victim of hackers.

So far through July 2022, $1.9 billion worth of digital assets have been stolen. This is more than 50% in comparison to the same period last year. Chainlaysis notes that this trend doesn’t seem to reverse anytime soon.

Earlier this month, nearly $200 million were stolen from cross-chain bridge protocol Nomad. Similarly, several Solana wallets reported a loss of over $5 million in early August.

Chainlaysis adds that there’s a stunning rise in the funds stolen from DeFi protocols. Furthermore, North Korea’s notorious Lazarus Group is behind a huge majority of the funds stolen …