Market capitalization of the cryptocurrency market

As the overall market capitalization of the cryptocurrency market continues to rise, hacking has increased exponentially.

According to SlowMist Hacked, as of August 8, there were 207 hack events in 2022, resulting in a loss of $2525 million.

In the past month, there have been two consecutive hacks.

On August 2, the Nomad protocol was hacked, with a total loss of about $152 million.

On August 3, Solana's wallets were extensively hacked.

Data from Dune shows that the hack affected more than 9,000 independent wallets, resulting in a loss of $40,88,121.

Due to frequent hacking incidents, the cryptocurrency market has become an “automated teller machine” for hackers and a breeding ground for hackers.

Breach incidents that occurred in the first half of 2022:
On February 20, the OpenSea platform, the world's largest marketplace for non-fungible digital tokens, was attacked.

According to OpenSea's official tweet, hackers sent phishing emails to all users' mailboxes at the same time the OpenSea contract was upgraded.

Many users mistakenly thought it was an official email and authorized the wallet.

As a result, their wallets were being robbed.

On March 17, according to a report by user Will Sheehan, arbitrage bots exploited a loophole in APE Coin's airdrop mechanism and acquired more than 60,000 ApeCoins (worth $8 each at the time) through fast loans.

On March 29, Ronin Network sent a warning to the community that the network had suffered a security breach, resulting in the hacking and theft of 173,600 Ethereum and 25.5 million USDC, at a loss of over $625 million.

On April 17, the Ethereum-based Beanstalk Farms project was attacked with quick loans, resulting in a loss of about $182 million.

On June 5, BAYC tweeted that “Discord servers were briefly exploited and it appears that around 200 ETH from NFT has been affected.

On June 24, Harmony's Horizon Bridge was hacked, and it was later confirmed that Horizon had been attacked not because a smart contract vulnerability was exploited, but because hackers had decrypted some private keys held by Horizon.

Posted using Tribaldex Blog