Over $2.77 billion value of crypto was misplaced to hacks, exploits, and assaults in 2022, in line with CoinGecko’s latest analysis.
Round 47% of this quantity — equating to $1.30 billion — was stolen utilizing a various vary of strategies together with market manipulation, bypassing the verification course of, and exploiting minor errors, in line with the CoinGecko report.
Most damaging strategies
“Crypto hackers are exploring unconventional methods of stealing from initiatives and customers,” states the report, after exploring the strategies attackers most popular in 2022.
The outcomes confirmed that almost half of the entire quantity was stolen utilizing new strategies which weren’t included within the classes.
The biggest heist of the 12 months was Axie Infinity’s Ronin Bridge hack, which is categorized underneath the entry management class. The attackers managed to steal over $615 million in Ethereum (ETH), which makes up over 58% of the entire entry management hacks.
The second, third, and fourth largest heists of the 12 months have been the outcomes of unconventional strategies, in line with the report.
Solana’s (SOL) wormhole hack value over $200 million, marking the second-largest lack of 2022. The Nomad bridge exploit and the Mango Markets hack value over $190 million, and $116 million, respectively, rating because the third and the fourth largest losses of the 12 months.
Exploits in 2022
The $2.77 billion misplaced to attackers in 2022 marks the very best quantity stolen in a single 12 months since 2013. In 2012, the entire quantity misplaced to attackers was $3.36 billion.
The chart beneath demonstrates the entire annual quantity of crypto misplaced to hacks and exploits since 2018.
The losses recorded in 2022 marks a 4.2% improve from 2021’s $2.66 billion. The chart additionally distinguishes the quantity misplaced every quarter. The primary quarter of 2022 misplaced probably the most vital quantity to the attackers, with $1.26 billion. Over $715 million was misplaced in the course of the second quarter — an additional $398 million and $395 million have been misplaced within the third and fourth quarters, respectively.
