Statistics from CertiK found that in December, $62.2M was lost to crypto hacks. The last month of the year marked the lowest monthly figure in 2022.
The platform confirmed that year-to-date losses exceeded $3.76B.
December’s Biggest Crypto Hacks
According to the platform, the Violation of Helio protocol It was the biggest event of the previous month, with a loss of $15M. The Helio protocol created HAY, which uses BNB as a network. A property with excess collateral ensures a yield of 7%.
The attacker used the Ankr protocol and converted Ankr Reward Bearing Staked BNB (aBNBc) to hBNB and staked the Helio protocol. Later, they loaned millions in BHAY0 instead of HAY0. HAY dropped to $0.40 following the exploit, but regained its peg to the dollar following a repurchase and burn from the development team.
The second major incident occurred in December Loss of Defrost Finance $12M for Flash Credit Attack. The hacker allegedly hacked Defrost’s V1 protocol to get $173,000. In a more serious V2 attack, a criminal used a fake collateral token and fraudulent pricing to liquidate users’ assets. Oracle$12.9 million was stolen.
The BitKeep, Ankr and Lodestar hacks, among other breaches, are highlights of the month. According to CertiK, exit fraud caused $15.5M in losses. Meanwhile, approximately $7.6M in flash loans were received; A decrease is observed in H2 2022. A massive $300.5M was lost in similar exploits in April, with the most prominent Flash attack on Lodestar.
Beat the bad months of March and November 2022
When looking at major events up to 2022, March and November win the award for worst months. More than $715M was lost to exploits in March, and $595M was stolen in November. January, May, July and December were relatively quiet on the exploitation and fraud front, with lower losses of $179M, $98.8M, $65.5M and $61M respectively.
According to the November update, 36 major attacks were recorded during the month, causing losses of $595M. FTX’s $477M hack marked the month’s largest. Dangerous escalation DeFi Hacks may be the second most significant trend of the year after the demise of numerous crypto titans like Celsius and FTX.
Cross-chain bridges are most commonly exploited.
Research from cryptocurrency data aggregator Token Terminal previously stated 50% DeFi Vulnerabilities target cross-chain bridges.
Meanwhile, at the beginning of the new year, an experienced Bitcoin The developer revealed that he lost $3.6 million worth of Bitcoin The dangers of self-defense.
BeInCrypto has reached out to the company or person involved in the story to get an official statement on the latest developments, but has yet to hear back.