Hackers Steal a Record $718 Million Across 11 Protocols in October

A total of $718 million has been lost by DeFi protocols during the first two weeks of October alone, and $3 billion has been lost by 125 crypto hacks since the beginning of 2022.

Hackers Steal a Record $718 Million Across 11 Protocols in October

According to Chainalysis, DeFi protocols have lost approximately $718 million across 11 projects so far in October alone - a new monthly record.

Approximately $3 billion has been lost to 125 hacks in 2022, which is on pace to surpass 2021's record of $3.2 billion.


According to Chainalysis, cross-chain bridges are increasingly being targeted by hackers. Three bridges were attacked by hackers, resulting in the theft of approximately $600 million, which accounts for 82% of all losses in October and 64% of all losses in 2022.

An attack on Binance's BNB Chain involving about $100 million tops the list of bridge exploits.

In a series of hacks across Mango Markets, Temple DAO, Rabby wallet, and the QAN platform, approximately $122 million was reportedly lost on Oct. 11.

A hack of the Temple DAO resulted in the theft of over $2.3 million from StaxLPStaking's account.

MNGO token value was manipulated and the hacker exploited the MNGO-PERP pool at Solana's Mango Market, resulting in the loss of over $100 million.

On October 11, QANplatform's Ethereum and BSC bridge was exploited for $1.89 million, while Rabby's Crypto wallet lost $200,000.

A bounty is being offered by Mango Market and TempleDAO in order to entice the exploiters to return the funds that were stolen.

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