Hack-related cryptocurrency losses spike

CyberScoop reports that cryptocurrency assets stolen in cyberattacks totaled $3.7 billion in 2022, which was 58% higher than in 2021, and accounted for more than 95% of all cryptocurrency theft incidents last year. Cryptocurrency hacking incidents also rose from 104 in 2021 to 134 in 2022, according to an Immunefi report, which showed that most cryptocurrency-targeted cyberattacks last year have been targeted at decentralized finance projects. Ronin Bridge incurred one of the largest hack-related cryptocurrency losses after North Korean hackers stole $625 million in cryptocurrency assets from the platform, while North Korean hackers were also associated with the $100 million hack of Harmony Bridge. Such attacks should prompt cryptocurrency developers to bolster cybersecurity defenses, said Immunefi Tech Lead Adrian Hetman. "Two years ago, I wouldn't even think about some hacker reaching over $100 million. But in the last two years, we've seen multiple cases like that," Hetman added.