Crypto Hacks Hit an Annual Low in December to End 2022

CertiK data found that $62.2M was lost due to crypto hackers in December. The last month of the year recorded the lowest monthly figure in 2022.

The platform confirmed that year-to-date losses exceeded $3.76B.

The Biggest Crypto Hacks of December

According to the platform helio protocol violation Last month was the biggest event with losses of $15M. Helio Protocol created HAY, a “volatile currency” that uses BNB as collateral. The highly collateralized property boasts a 7% yield.

The attacker exploited the Anker protocol by converting Anker Reward Bearing Staked BNB (ABNBC) to hBNB and staking it in the Helio protocol. Then, they lent lakhs to BHAY0 in exchange for HAY0. Hay fell to $0.40 after the exploit, but has since regained its peg to the dollar after buybacks and burnout from the development team.

December’s second biggest event was Disadvantages of Defrost Finance of over $12M for an alleged flash loan raid. The hacker allegedly hacked Defrost’s V1 protocol to launder $173,000. In a more serious V2 attack, criminals liquidated users’ holdings using fake collateral tokens and fraudulent pricing. OracleTheft of $12.9 million.

The BitKeep, Ankr, and Lodestar hacks, among other breaches, were the highlights of the month. According to CertiK, $15.5M was lost due to exit scams. Meanwhile, Quicken Loans defrauded roughly $7.6 million; The reduction is seen in the second half of 2022. A whopping $300.5M was lost in similar exploits in April, the most significant being the flash attack on Loadstar.

March and November were the worst months of 2022

Looking at major events through 2022, March and November win the award for worst months. The exploit caused losses of over $715M in March, while nearly $595M was stolen in November. January, May, July, and December were relatively quiet on the exploits and scams front, with lower losses of $179M, $98.8M, $65.5M, and $61M, respectively.

As per the November update, 36 major attacks were recorded in the month, causing a loss of $595 million. The $477M hack of FTX marked the largest that month. there has been an alarming increase in DeFi Hacks have probably been the second most notable trend of the year after the demise of several crypto titans like Celsius and FTX.

Cross-chain bridges remain the most exploited.

Research by cryptocurrency data aggregator Token Terminal previously claimed 50% of DeFi The vulnerabilities target cross-chain bridges.

Meanwhile, at the beginning of the new year, a veteran Bitcoin Developer Reveals He Lost $3.6 Million Worth Of Bitcoin, Demonstrates The dangers of self-detention.

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BeInCrypto has reached out to the company or the person involved in the story for an official statement regarding the recent development, but has yet to hear back.

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