Knowledge from blockchain analytics agency Chainalysis reveals that October is “the most important month within the largest 12 months ever for hacking exercise.” The agency added that crypto hackers have grossed over $3 billion throughout 125 hacks to this point this 12 months.
Crypto-Hacking Exercise Soars in October
Chainalysis shared some crypto-related hacking statistics Wednesday. The blockchain information analytics agency defined that again in 2019, most hacks focused centralized exchanges. Nonetheless, a overwhelming majority of targets at the moment are decentralized finance (defi) protocols. Chainalysis wrote:
After 4 hacks yesterday, October is now the most important month within the largest 12 months ever for hacking exercise … To this point this month, $718 million has been stolen from defi protocols throughout 11 completely different hacks.
Complete worth hacked and variety of hacks by month. Source: Chainalysis
The 4 hacks that passed off on Tuesday concerned Rabby pockets, QANPlatform, Temple DAO, and Mango Markets. The largest exploit of the 4 was the Solana-based defi protocol Mango Markets hack which noticed about $115 million stolen.
“Cross-chain bridges stay a significant goal for hackers, with 3 bridges breached this month and almost $600 million stolen, accounting for 82% of losses this month and 64% of losses all 12 months,” Chainalysis detailed, elaborating:
At this price, 2022 will doubtless surpass 2021 as the most important 12 months for hacking on document. To this point, hackers have grossed over $3 billion {dollars} throughout 125 hacks.
What do you consider the findings by Chainalysis? Tell us within the feedback part beneath.
Kevin Helms
A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source methods, community results and the intersection between economics and cryptography.
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Interchain Labs, Asymmetric Research, and SEAL Alliance Publish Report on Contained DPRK-Linked Social Engineering Attempt; Report Confirms No Impact on Cosmos Stack Security – Branded Spotlight Bitcoin News
Interchain Labs, Asymmetric Research, and SEAL Alliance Publish Report on Contained DPRK-Linked Social Engineering Attempt; Report Confirms No Impact on Cosmos Stack Security – Branded Spotlight Bitcoin News
Fake wallet apps ask for your 12-word phrase and quietly drain your crypto funds
CRIL found over 20 Play Store apps built solely to steal users’ crypto credentials
Malicious apps used WebView to fake real login pages from PancakeSwap and others
New research by Cyble Research and Intelligence Labs (CRIL) has uncovered a large-scale phishing campaign involving more than 20 Android applications listed on the Google Play Store.
These apps, which appeared to be legitimate cryptocurrency wallet tools, were created with a singular purpose: stealing users’ mnemonic phrases, the crucial 12-word keys that provide full access to crypto wallets.
Former US President Donald Trump has disclosed nearly $60 million in income from his involvement in a cryptocurrency venture, shedding light on how he and his family continue to benefit from the digital asset industry. The Financial Times reported on Friday that Trump’s annual financial disclosure reveals $57.4 million earned through World Liberty Financial (WLF), a cryptocurrency enterprise backed by Trump alongside his sons Donald Jr. and Eric.
The detailed filing, exceeding 200 pages and published by the US Office of Government Ethics, shows Trump holds 15.75 billion governance tokens in WLF, granting him substantial voting rights in the operation. The cryptocurrency venture stands as one of Trump’s largest income sources, alongside revenues from books and real estate investments.
Trump’s financial ties to the crypto sector have drawn increasing scrutiny amid ongoing concerns about potential conflicts of interest. The White House did not immediately respond to requests for comment on the disclosures.
World Liberty Financial revealed in January that it had successfully sold 21 billion tokens during a public sale, reaching its target of raising $1 billion. Notably, a 2024 filing with the US Securities and Exchange Commission identified Trump’s special envoy, Steve Witkoff, as a “promoter” of the WLF project.
Trump’s vocal support for cryptocurrencies has helped drive market enthusiasm, pushing bitcoin prices above $100,000 per coin. Under SEC Chair Paul Atkins, several high-profile crypto-related legal cases have been dropped, further easing regulatory pressure on the industry.
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Additionally, Trump has actively promoted his own $TRUMP memecoin via social media and hosted a gala last month honoring its major holders. The Trump family media company recently announced plans to launch an exchange-traded fund (ETF) directly holding bitcoin and revealed intentions to raise $2.5 billion to establish a “bitcoin treasury.”
At a bitcoin conference in Las Vegas last May, Eric Trump and Donald Trump Jr. praised cryptocurrencies as “cheaper,” “faster,” “safer,” and “more transparent” than traditional fiat currencies, signaling the family’s continued commitment to expanding their digital asset footprint.