Crypto hacks: $2 billion stolen - security firm warns of ongoing vulnerabilities in the Defi ecosystem.

Crypto hacks: $2 billion stolen - security firm warns of ongoing vulnerabilities in the Defi ecosystem.

According to a report by www.golem.de, around $2 billion was stolen via cryptocurrencies this year. This finding highlights the ongoing vulnerabilities and challenges within the DeFi ecosystem, as reported by security firm De.Fi.

The company TRM Labs comes to a similar conclusion in its analysis: by December 2023, $1.7 billion in cryptocurrencies had been stolen. A few large attacks are responsible for the majority of this amount. As in the previous year, the ten largest hacks alone accounted for almost 70 percent of the stolen funds, according to TRM.

The amount of damage is high, but has fallen by almost half compared to recent years. According to Chainalysis's latest annual crypto crime report, $3.8 billion was stolen last year and $3.3 billion in 2021.

Based on these figures, it can be seen that despite the high amount of damage this year, the total number of stolen funds is decreasing compared to previous years. This could indicate that security measures in the crypto industry are becoming more effective as they have been able to reduce the absolute number of successful hacks.

Another interesting detail is the largest cryptocurrency hack to date, in which hackers stole $625 million from the Ronin blockchain, which is also used for the online game Axie Infinity. The FBI blamed a North Korean group for the attack.

Overall, these numbers show that the cryptocurrency industry remains at significant risk of hacks and theft, but progress is also being made in combating this threat. This could have a long-term positive impact on investor confidence and market stability.