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Browse: Home / 2022 / October / 13 / Cryptocurrency Market Hackers Set for Record Year After Looting Over $3 Billion – Bloomberg

Cryptocurrency Market Hackers Set for Record Year After Looting Over $3 Billion – Bloomberg

By Securities Docket on October 13, 2022, 8:32 am

Cryptocurrencies may have crashed this year but they remain a digital cash-machine for one potent constituency: hackers.

At least $718 million has been stolen so far in October alone, taking the gross tally for the year past $3 billion and putting 2022 on course to be a record for the total value hacked, according to blockchain specialist Chainalysis Inc.

Most of the targets are so-called decentralized finance — or DeFi — protocols, which deploy software-based algorithms to enable crypto investors to trade, borrow and lend on digital ledgers without using a central intermediary.

Source: Cryptocurrency Market Hackers Set for Record Year After Looting Over $3 Billion – Bloomberg

Posted in Industry, Top | Tagged Cryptocurrency, Hackers

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