Cryptocurrency Update: Blockchain analytics firm Chainalysis recently revealed that cybercriminals carried out 125 hacks this year. More than $3 billion in cryptocurrency has been stolen in these hacks. In a Twitter thread, Chainalysis said it had hit $3 billion in October. This month alone, about $718 million has been stolen through 11 different hacks.
The company tweeted, “October now becomes the biggest month of the year for hacking activity so far. This is when almost half a month is left.”
Hackers changed the method of attack
Chainalysis said that in 2021, hackers had siphoned off $2.1 billion.In the past few years, hackers have attacked crypto exchanges, but now, as those companies have beefed up their security, cybercriminals have turned their attention to “cross-chain bridges” that provide investors with digital assets and allows data to be transferred to different blockchains. It has been told that these bridges store a lot of cryptocurrencies.
Chainalysis tweeted, “Cross-chain bridges, currently a prime target for hackers, have broken 3 bridges this month and nearly $600 million have been stolen.”
According to a report by CBS News, the hackers initially caused a loss of $570 million in cryptocurrency to Binance, but the loss was reduced to under $100 million. The CEO of Binance made such a statement last week.
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