$3.7B Stolen in Crypto Hacks Targeting DeFi in 2022

It has been revealed by TRM Labs that a record $3.7 billion worth of crypto funds have been stolen the past year. Of this, 80% have been traced back to attacks against DeFi, as per the research report published by the company. The ten mega hacks identified in the analysis represent 75% of the total amount of funds stolen over the past few years.

In the findings of a recent study by TRM Labs, it was found that 3.7 billion dollars worth of crypto funds were fraudulently obtained by cybercriminals in 2022. According to the analysis, 80% of the stolen amount, or $3 billion, was obtained through decentralized finance (DeFi) attacks, which constitute a large amount of the stolen amount.

The ten “mega hacks” in the last year refer to exploits of more than $100 million. A total of $3.7 billion was stolen throughout 2022 — nearly 75% of that amount being attributed to these mega hacks. 

More than $540 million was stolen from Ronin Bridge, an Ethereum sidechain developed for the play-to-earn game Axie Infinity, during the Lazarus Group’s attack on Ronin Bridge, the largest hack of the year. In the world of cybercrime, the La

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