October is the worst month for crypto hacks – Chainalysis

Data from Chainalysis indicates that October has become the worst-ever month for crypto-related crimes.

According to Chainalysis, with two more weeks to go, October has seen over $718 million in overall losses.

Chainalysis puts it that the amount was stolen from several decentralized finance (DeFi) protocols across eleven different attacks.

So far in October, hackers have grossed over $3 billion across 125 hacks.

This year was off to a rocky start with a $325 million exploit of popular cross-chain service Wormhole, which was followed by a $625 million attack on Axie Infinity’s Ronin bridge, and then a $200 million exploit of the Nomad bridge.

Over three bridges were breached this month alone, Chainalysis said, with an attack on a BNB Chain-based bridge over the weekend saw exploiters illicitly gaining over $100 million after the bridge was exploited for $566 million.

Also, on Monday, the layer 1 blockchain QANplatform was the target of a bridge hack that resulted in the theft of nearly $1 million in QANX tokens.

Leave a Reply

Your email address will not be published.