$2 billion lost due to cryptocurrency theft

$2 billion lost due to cryptocurrency theft

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As the crypto market keeps crashing the first half of this year marks a whopping $1.9 billion loss due to the hacks in different crypto-related services.

This insane number is also 60% more than the same stats from the last entirely. That sure doesn't help the market prices but it could also be an early sign of what is going to be trending in the market in the near future. High security value projects. Better keep an eye on those.
It should be noted that such an increase of crypto theft is happening in the time of a market crash and the whole market has dropped over 50% in value. Experts say that the ones who suffered from the hacks the most are DeFi protocols. Defi protocols are meant to become a better financial system and allow us to get rid of the middle man by using blockchain technology, smart contracts and more. Unfortunately this level of decentralization costs a bit of security integrity making it hope for the biggest crypto thefts of 2022. The winner of the biggest of one which would goe to AXS hack in march that cost their users $625 million. It's deemed that the hack was committed from North Korea.
DeFi protocols on ETH were booming in the past couple of years.
Such a fast growth contributed to low security, huge pools of money and made it very lucrative for hackers being such an easy target.

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