Crypto Hackers Set for Record Year After Looting over $3 Billion

Hackers have become adept at exploiting weaknesses in the security, coding, and structure of so-called "DeFi" marketplaces.

By Sunil Jagtiani | October 17, 2022 at 07:26 AM

Stock photo of hacker. Credit: Marc Bruxelle/Adobe Stock

Cryptocurrencies may have crashed this year, but they remain a digital cash-machine for one potent constituency: hackers. At least $718 million has been stolen so far in October alone, taking the gross tally for the year past $3 billion and putting 2022 on course to set a record for the total value hacked, according to blockchain specialist Chainalysis Inc.

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