Over $3,770,000,000 Lost to Blockchain-Related Hacks in 2022: Security Firm SlowMist
Blockchain security firm SlowMist reveals that hundreds of exploits occurred on decentralized networks last year resulting in billions of dollars in losses.
In its latest annual report, the security firm says the crypto industry recorded losses of $3.77 billion in 303 incidents last year, a 61% decrease compared to the $9.79 billion in losses witnessed in 2021.
According to SlowMist, various blockchain sectors such as decentralized finance (DeFi), non-fungible tokens (NFT) and cross-chain bridges took the brunt of the security breaches.
“There were a total of 255 security incidents affecting various ecosystems, including DeFi, cross-chain bridges, and NFTs. In addition, there were 10 security incidents involving exchanges, 11 incidents involving public chains, 6 incidents involving wallets, and 21 incidents of other types.”
The blockchain security firm also says the BNB blockchain suffered the biggest losses in the DeFi space in 2022 despite Ethereum’s (ETH) dominance of the sector.
“There were 183 major DeFi security incidents in 2022, resulting in losses of $2.075 billion, or about 55% of total losses for the year.
Among these events, there were approximately 79 on BNB Chain, resulting in a total loss of around $785 million, making it the platform with the highest losses.
Ethereum had about 50 security incidents, resulting in a total loss of about $528 million, followed by Solana with about 11 incidents and a total loss of about $196 million.
Chain bridge safety incidents cost $1.21 billion last year, according to the report.
In the NFT space, attackers used various methods to steal assets, including phishing, phishing and exploiting contract vulnerabilities, according to SlowMist. NFT security incidents resulted in approximately $65.44 million in losses in 2022.
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