Crypto Hackers Cause Ethereum Ecosystem Sustains The Most Losses
Even though the cryptocurrency industry is now facing a severe market downturn, hackers continue to abuse blockchain technology and actively launch frauds.
According to the findings of an Atlas VPN investigation, hackers successfully stole around $483 million in total in the third quarter of 2022, despite a 43% drop in the number of blockchain thefts in the most recent quarter compared to Q2.
The overall amount of money lost to blockchain hackers throughout the three quarters was $2,570,117,825, with the amount lost computed by utilizing the conversion rate of a specific cryptocurrency at the time of the breach or fraud.
The Ethereum (ETH) ecosystem suffered the biggest damage, with $348 million lost over 11 assaults. Hacker attacks cost the crypto market Wintermute and the cross-chain interoperability technology Nomad bridge around $160 million.
Notably, the amount of money lost to blockchain hackers has been reducing quarter after quarter, falling from more than $1.3 billion in the first quarter of 2022 to $810 million in the second quarter. In the third quarter, overall losses were cut by 40% to $483 million. Crypto hackers stole more than $2.5 billion over three quarters in 2022.
Slowmist Hacked, a nonprofit that archives information on publicly publicized attacks on blockchain projects, gathered the numbers utilized in the research.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Author
Scam Alert
Crypto Hackers Cause Ethereum Ecosystem Sustains The Most Losses
Even though the cryptocurrency industry is now facing a severe market downturn, hackers continue to abuse blockchain technology and actively launch frauds.
According to the findings of an Atlas VPN investigation, hackers successfully stole around $483 million in total in the third quarter of 2022, despite a 43% drop in the number of blockchain thefts in the most recent quarter compared to Q2.
The overall amount of money lost to blockchain hackers throughout the three quarters was $2,570,117,825, with the amount lost computed by utilizing the conversion rate of a specific cryptocurrency at the time of the breach or fraud.
The Ethereum (ETH) ecosystem suffered the biggest damage, with $348 million lost over 11 assaults. Hacker attacks cost the crypto market Wintermute and the cross-chain interoperability technology Nomad bridge around $160 million.
Notably, the amount of money lost to blockchain hackers has been reducing quarter after quarter, falling from more than $1.3 billion in the first quarter of 2022 to $810 million in the second quarter. In the third quarter, overall losses were cut by 40% to $483 million. Crypto hackers stole more than $2.5 billion over three quarters in 2022.
Slowmist Hacked, a nonprofit that archives information on publicly publicized attacks on blockchain projects, gathered the numbers utilized in the research.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Other Posts
Related Posts
Latest
Gate.io Launches USDE Financial Products with Annualized Returns of Up to 54%, Ushering in a High-Return Era for Stablecoin Investments
Bitdeer Convertible Notes Worth $360 Million Offered for Expansion Efforts
Sui Foundation Enters into Strategic Partnership with Franklin Templeton Digital Assets
Press Release
Gate.io Launches USDE Financial Products with Annualized Returns of Up to 54%, Ushering in a High-Return Era for Stablecoin Investments
Sui Foundation Enters into Strategic Partnership with Franklin Templeton Digital Assets
