More than $1,6 billion has been stolen from DeFi protocols since the beginning of 2022

The loss from hacking in March exceeds this figure for the whole of 2020

03.05.2022 - 11:35

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What’s new? In the first four months of 2022, $1,67 billion was stolen from DeFi protocols. According to a report by the cybersecurity company CertiK, the largest amount stolen during March was $719,2 million. The figure for that month surpassed the total losses from hacking for all of 2020 by $200 million.

Source: Twitter.com

Details of the report. There were recorded 31 major incidents in April 2022, with $376,7 million stolen during that month. The most unprofitable was the Beanstalk Farms DeFi protocol hack, as a result of which hackers withdrew $182 million.

The hack of DeFi platforms Rari Capital and Fei Protocol was the second largest in April, with hackers managing to withdraw more than $80 million. The representatives of the companies offered the hacker $10 million for the return of the rest of the stolen funds. Hackers also withdrew $10 million from the Saddle Finance exchange in April.

Source: Twitter.com

In the last four months, more has been stolen from DeFi protocols than the total in 2020 and 2021 combined. The biggest hack since the beginning of 2022 was the attack on the Ronin Network sidechain. Hackers managed to withdraw more than $625 million in cryptocurrency (173 600 ETH and 25,5 million USDC). The US Treasury Department and the FBI linked the hack to hackers from the Lazarus hacker group from North Korea.

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