Based on dozens of cyberattacks and thefts this year, hackers stole over $2 billion in cryptocurrency, according to De.FI, the web3 security company that manages the REKT database.
The site ranks the worst-ever crypto hacks, ranging from the Ronin network breach in 2022—the largest event in history—where hackers took over $600 million in cryptocurrency—to this year's hack against Mixin Network, which brought in almost $200 million for the criminals.
DeFi, in its report, wrote, “This amount, though dispersed across various incidents, underscores the persistent vulnerabilities and challenges within the DeFi ecosystem[…]2023 stood as a testament to both the ongoing vulnerabilities and the strides made in addressing them, even as interest in the space was relatively muted by the ongoing bear market in the first half of the year.”
In an estimate, published by blockchain intelligence firm TRM, the total amount of cryptocurrency that hackers have stolen this year was also made public earlier in December. As of mid-December, the business reported that the total amounted to around $1.7 billion.
Among the other crypto thefts conducted this year, one of the worst ones was a hack against Euler Fianance, where threat actors stole $200 million. Other notable hacks include those against Multichain ($126 million), BonqDAO ($120 million), Poloniex ($114 million), and Atomic Wallet ($100 million), among hundreds of other targets.
Last year, blockchain monitoring firm Chainalysis reported that cybercriminals purloined a record-breaking $3.8 billion in cryptocurrency. Of those, the Lazarus Group, a group of North Korean government hackers who are among the most active in the cryptocurrency space, took $1.7 billion in an attempt to finance the regime's authorized nuclear weapons program.
In 2021, Chainalysis reported hacks that compromised crypto worth $3.3 billion.
It is rather not possible to predict what the figures will be in 2024, but given the failures witnessed in cyber security by several crypto and web3 initiatives, as well as the significant financial potential of both sectors—discussed at TechCrunch Disrupt earlier this year—we should anticipate that hackers will continue to target this expanding market.
