Criptocurrencies hackers are stealing over 200% this year

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Criptocurrencies hackers are stealing over 200% this year

Since the beginning of the year, there have been decreasing numbers of criptocurrencies hacks. According to BestBrokers, the industry saw 64 security breaches by mid-June, a decline from last year's 251 hacks.

The average amount stolen per hack has gone up by 206% compared to the 2021 average, despite the fact that the number of successful hacks has been decreasing.

Hackers seem to be aiming for quality, not quantity.

According to research shared withCryptoSlate, there were 251 hacks in total that totaled $3.2 billion stolen in the year 2021. As of mid-June, the industry saw around $1.7 billion stolen in 65 security breaches.

The average amount stolen per hack this year is $26.6 million, a 206% increase compared to the 2021 average of $12.9 million. This number is even higher compared to the 2020 average of $4.7 million stolen per hack, representing a 465.9% increase.

The researchers believe that hackers have been aiming for and successfully hitting larger targets in 2022. The DeFi market is a favorite target for hackers because they are generally able to make the largest returns on decentralized protocols.

In 2021, around 72% of all stolen criptocurrency was attributed to DeFi protocols and services. This year, this percentage increased to 97%.

Robert Hoffman, a BestBrokers analyst, said that DeFi had become the main target for hackers due to the large amount of venture capital money that has been poured into the market. Protocols that launch first will have the highest chance of succeeding, because of the competitive nature of the market.

There is a lot of room for manipulation due to the technical nature of smart contracts and the expertise required to program them. Hoffman believes that once DeFi becomes mainstream, most of its security issues will be resolved as with any new technology that gets widespread adoption.