The year 2022 was a record-breaking year for cryptocurrency hacking, with a total of $3.8 billion stolen, according to Chainalysis.
The month of October alone saw $775.7 million stolen in 32 separate attacks in 2022.
The majority of the stolen cryptocurrency came from DeFi protocols, accounting for 82.1% of all crypto stolen by hackers, which is an increase from 73.3% in 2021.
North Korea-linked hackers were the most successful in stealing cryptocurrency, with the Lazarus Group stealing an estimated $1.7 billion. The money is believed to be funding North Korea’s nuclear weapons programs.
A large portion of the stolen cryptocurrency was laundered using mixers, with Tornado Cash being the most frequently used in 2021 and 2022.
