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.

Tweet

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.


Share Tweet Send
0 Comments
Loading...
You've successfully subscribed to CCnews24
Great! Next, complete checkout for full access to CCnews24
Welcome back! You've successfully signed in
Success! Your account is fully activated, you now have access to all content.