Bitcoin News and Finance
Crypto Incidents Involving Exit Scams, Hacks, and Code Exploits Reach Record Low in December 2022 According to Certik Skip to main content

Crypto Incidents Involving Exit Scams, Hacks, and Code Exploits Reach Record Low in December 2022 According to Certik

Crypto Incidents Involving Exit Scams, Hacks, and Code Exploits Reach Record Low in December 2022 According to Certik

According to blockchain security company Certik, the number of cryptocurrency incidents involving exit scams, hacks, and code exploits in Dec. 2022 was the lowest monthly figure of the year. Certik noted that the combined incidents amounted to $62.2 million “lost to exploits, hacks, and scams.”

Record Low Cyber Attacks in December 2022 Result in $62.2 Million in Losses

On Dec. 31, 2022, Certik tweeted that the last month of the year saw the least amount of exploits, hacks, and scams. All the incidents combined added up to roughly $62.2 million, and Certik noted it was the “lowest monthly figure” of the year.

Certik detailed that exit scams accounted for $15.5 million, and flashloan attacks represented $7.6 million. The largest flashloan attack came from the Lodestar exploit, and the largest exit scam was Defrost Finance.

The following day, on Jan. 1, 2023, Certik said that the exploits, hacks, and scams from the previous month stemmed from “23 major attacks.” The largest incident that occurred was the Helio Protocol and stablecoin attack.

Crypto Incidents Involving Exit Scams, Hacks, and Code Exploits Reach Record Low in December 2022 According to Certik

Despite the 23 occurrences that saw $62.2 million lost, the month prior, in Nov. 2022, Certik explained that there were “36 major attacks” that amounted to $595 million lost. The largest incident in Nov. 2022 was the FTX hack, which took place the same day the company filed for Chapter 11 bankruptcy protection.

$477 million was stolen during the FTX hack, and the second-largest incident in Nov. 2022 was Deribit’s loss of $28 million. 2022 saw a record number of hacks, and the slowdown in Dec. 2022 was a welcome relief for many.

According to statistics, besides the FTX hack in Nov. 2022, the largest hacks included Binance Smart Chain’s token hub exploit, which saw the loss of $569 million, the Ronin bridge breach, which saw $540 million drained, and the Wormhole exploit, which saw $326 million stolen.

On Dec. 15, 2022, Elliptic noted that roughly $2.7 billion was siphoned from decentralized finance (DeFi) protocols. Blockchain security firm Peckshield estimated that there was $1.55 billion taken from defi protocols in 2021.

Do you have an opinion on the relatively low number of exploits, hacks, and scams that occurred in Dec. 2022? Please share your thoughts on this topic in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory