With two weeks remaining in the month and losses totaling over $718 million, October has surpassed all previous records for crypto-related crimes.
According to information provided by Chainalysis on Thursday, there were eleven different attacks that resulted in the theft of the money from various decentralised finance (DeFi) protocols.
According to Chainalysis experts, "2022 will probably surpass 2021 as the largest year for hacking on record."
"Over $3 billion has been made by hackers to date across 125 hacks."
According to Jasper Lee, audit tech lead at crypto auditing company Sooho.io, "despite the present bear market, we're witnessing a lot of activity from hackers who are targeting multiple protocols."
"They make for simple and dependable implementation for those protocols or Dapps [decentralised apps] that have not been extensively inspected."