The quantity exploited this year thus far surpasses the full amount stolen all told of 2020 and 2021 combined, with the month of March alone beating 2020 by over $200 million.
The decentralized finance (DeFi) house has been rife with hacks, exploits, and scams to date this year with over $1.6 billion in crypto taken from users, surpassing the full amount taken in 2020 and 2021 combined.
Analysis from blockchain security firm CertiK disclosed the statistics on might two showing the month of March having the most price taken at $719.2 million, over $200 million over what was taken all told of 2020. The March figure is essentially due to the Ronin Bridge exploit wherever attackers made off with over $600 million worth of crypto.
April was a busy month for attacks with CertiK recording 31 major incidents, a median of nearly one daily. the most valuable was the $182 million siphoned from stem Farms using a flash loan attack.
CertiK noted the nearly $80 million lost by Fei Protocol, the second most valuable heist last month, and the $10 million lost from automatic market maker protocol Saddle Finance that each took place at the tip of the month.
Both protocols took to Twitter to offer their respective attackers a bounty in exchange for returning the purloined funds. while the possibilities of that occuring is also slim, it’s not remarkable because the Poly Network hacker in 2021 came nearly all of the $610 million purloined from the network along with refusing a $500,000 bounty reward.
CertiK said that April 2022 “holds the record for highest dollar quantity losses in flash loan attacks ever recorded by us” with losses from that type of exploit reaching $301.4 million. in comparison, flash loan attack losses in Jan, February, and March 2022 combined were only $6.7 million.
( Jesse Coghlan, Cointelegraph, 2022 )