According to a research report, $1.3 billion in cryptocurrencies have been stolen during the first quarter of 2022. 97% derived from DeFi protocols.
The study, published by cryptomonday.de researchers, further highlights that 97% of the stolen funds derived from decentralized finance protocol exploits.2022 is already breaking records in terms of stolen cryptocurrencies from hacks and exploits. Last year, $3.2 billion in digital currencies were stolen and so far, 2022 has recorded over 40% of 2021’s aggregate during the first quarter alone. The recorded stolen crypto data stems from apublished by cryptomonday.
For instance, out of the $1.3 billion in digital currencies stolen this year, 97% of the funds were taken from defi protocols. In Q1 2021, only 72% of the stolen funds derived from defi and in 2020, the number was as low as 30%. Moreover, most of the theft in 2022 came from faulty code exploits where smart contract errors have been used to siphon stolen money from defi protocols.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Consensus 2022 Presented by CoinDesk | June 9-12, 2022Consensus2022 speaker Kimbal Musk created biggreen DAO as the first nonprofit-led philanthropic DAO. The democratized DAO aims to restructure grant-giving while teaching communities how to grow food. Register:
Read more »
SummerStage 2022 bringing 90 free and benefit shows across NYC this summerThe City Parks Foundation has announced the expansive lineup for SummerStage 2022, which will feature about 90 free and benefit concerts spread out among 13 parks around the city. 'We wanted to make sure that people still had access to culture.'
Read more »
Modern Computing: A Short History, 1945-2022Key milestones in the journey from ENIAC to Tesla, from Data Processing to Big Data.
Read more »
Mercedes-AMG EQS53 2022 review – bespoke S-class sized EV arrives with grand ambitions | EvoMercedes has put all of its resources into creating a bespoke all-electric flagship, but hasn’t produced anything worthy of replacing the S-class, yet
Read more »
Wimbledon 2022: Organizers feared Russian participation would fuel a 'propaganda machine'Banning Russian and Belarusian tennis players from this year's Wimbledon tournament in light of the war in Ukraine is not discriminatory, say organizers of the grand slam tournament.
Read more »
Bitcoin network electricity usage drops 25% in Q1 2022, easing energy consumption fearsAs concerns over the ecological impact of Proof of Work (PoW) cryptocurrencies like Bitcoin (BTC) mount, the latest data shows... Continue reading
Read more »