Cryptocurrency projects incurred losses amounting to about $1.7 billion as a result of hacking operations this year, a significant decrease from last year, when losses amounted to $4 billion.
Bloomberg quoted TRM Labs, a company specializing in financial crimes, as saying that even if piracy operations continue in the last month of the current year, the year will end with much lower losses than the previous year.
Ari Redbord, head of global policy and government affairs at TRM Labs, noted that the global focus on combating cybercrime may contribute, at least in part, to the integration of activities of great importance to significantly enhance the growth of the legal system.
10 piracy operations accounted for about 70% of the total money pirated this year, according to estimates by TRM Labs. The decentralized lending app Euler Finance, the multi-chain bridge Multichain, and the cryptocurrency exchange Poloniex were all subject to attacks worth $100 million each.
Attacks targeting infrastructure – such as hacking secret keys that enable hackers to access cryptocurrency project servers or software to steal funds or manipulate deals – accounted for nearly 60% of total hacking operations this year, according to TRM Labs estimates. .
