Crypto Hack Losses at $1.9B for Jan.-July ’22; 60% increase largely due to surge in funds from DeFi protocols

Losses from crypto hacks were up 60% in the first seven months of 2022, now hitting $1.9 billion — an increase from $1.2 billion at the same time last year.

This was the result of a surge in funds taken from DeFi protocols, which allow for crypto-denominated lending outside a traditional bank. Many DeFi applications run on the Ethereum blockchain.


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