in blockchain hacks, chainalysis, crypto exploits, crypto security, DeFi exploits, DeFi hacks, hacking activity, hacking records, october, stolen crypto

Barely halfway and October’s the ‘biggest month’ in crypto hacks: Chainalysis

by Repost Admin October 13, 2022, 6:43 am 1.9k Views

While 2021 was the biggest year on record for crypto hacks, 2022 could “likely” beat the record “at this rate” according to Chainalysis.

Blockchain analytics firm Chainalysis has labeled October 2022 as “the biggest month in the biggest year ever for hacking activity” with the total hacked value for the month nearly reaching $718 million.

Despite not being more than halfway through the month, Chainalysis said 11 different hacks on decentralized finance (DeFi) protocols had seen hundreds of millions exploited.

Four exploits alone took place on Oct. 11 worth around $122 million. Hackers siphoned $200,000 in crypto using a smart contract from crypto wallet Rabby