Hacks, more, more and hacker – 2022 was the scene of the disappearance and theft of a number of funds, at the heart of crypto protocols. Crazy sums estimated at approx 3 billion dollars It got lost in the meanderings of blockchain over the past year. So 2021 is even a small player, 2 billion are fighting a duel. Come back to 2022 full of colors and all kinds of tricks.
Bridges, real bridges between your funds and hackers
Wormhole, the gap in the rocket – $326 million
The year started flying with the hack wormhole bridge. A bridge to transfer money between the Ethereum blockchain and its twin Solana. One flaw is allowed in the code siphon hundreds of thousands of ETH User wallets in early February. not less than 326 million dollars thus flying off into other skies as Team Rocket was sent flying into the air by an angry Pikachu’s lightning attack.
Should we see the worm half empty or half full? Again, the hole was quickly filled 120,000 ETH appears out of nowhere To avoid a cataclysm that could destroy DeFi in Solana. Coincidence of the calendar or foreshadowing? Just a few days ago, in mid-January Vitalik Buterinco-founderEthereum, raises doubts about bridge safety cross chain. Typically like Wormhole. Future quickly proved him right.
Game over for Axie Infinity – $600 million
Next month, at the end of March 173,600 ETH up in smoke for the popular game Play to win Axie Infinity. It is around 600 million dollars during flight. Using a flaw, hackers It is believed to be a group of LazarusNorth Korean hackers compromised the Ronin blockchain that the game runs on.. To add another layer, two months later the game’s Discord server became available. is attacked.
The stolen funds would be available later converted to bitcoin.
>> Need cryptos for your first NFTs? Sign up on Binance and save 10% on fees (Commercial Link) <
Bridge breaks Harmony’s shortfall – $100 million
To support his thesis Vitalik Buterin, another cryptocurrency in danger of being hacked in June 2022. Bridge of the Harmony blockchain. Of course, transferring your cryptos to another blockchain is a risky process. There is another security breach allowed a hacker to siphon 85,860 ETHi.e. close 100 million dollars during a bad deed.
in the question? A vulnerability in the handling of the multisig process responsible for guaranteeing the ETH bridge. A bug identified by a user a few weeks ago. However, he did not see any reaction from the team at that time. They took it badly.
Nomad became an isolated hacker – $190 million
Poof, gone. Who is the new victim? I give you millet. New bridge. A nomad. A bridge to transfer funds from Ethereum to blockchains like Evmos, Moonbeam or Milkomeda. It is a drama in early August. The almost all of the invested funds are stolen. It is around 190 million dollars.
The flaw comes from the code, specifically the process() function. Unlike most hackers, at least 41 addresses were involved in the attack. Thus, several hackers would have acted simultaneously. the the popular Tornado Cash protocol then allowed to cover the traces of the final destination of these funds.
Nevertheless, the next day the Nomad teams reacted. They announce that all hackers who return at least 90% of the stolen amount will be considered white hats. In other words, no legal action will be taken against them. Even if that wasn’t the whole story, at least the maneuver that was fair made it possible. He quickly returned the $36 million.
Wintermute, the mid-winter crypto hack – $160 million
Market making platform winter silent there are also is a great hack theme last September. The affected platform also has DeFi operations. Their pendant CeFi and OTC (Over The Counter) saved. According to the CEO, Evgeny Gaevoi, this did not affect the solvency of the platform, which after the theft still had twice the stolen amount in equity. It touched, but did not sink.
What’s more, only two of the assets stolen by the hackers were worth more than $1 million. Not enough to have a strong impact on the prices of said cryptocurrencies.
The hacks involved are one hacker to buy each blockchain
BNB Chain, open hack operation – $500 million
It’s early October Binance Token Hub is targeted. Hackers aren’t necessarily shy. This resulted in the theft of over 2 million BNB tokens ie. 500 million dollars in cryptocurrency. Again, this is a bridge issue. It takes several hours for the developers to develop the patch before they can restart the blockchain, which was shut down during the analysis of the flaw.
A real hacker hunt ensues as Binance analysts track down the thief. Funds are quickly dispersed across 3 blockchains: Ethereum, Fantom and Polygon. However, the bulk of the amount, $400 million, may have been frozen before leaving the Binance blockchain.
Mango Markets, fishing for giant hack (bricot) – $100 million
Paying the price in October also applies to the Solana blockchain a great hack. And God knows that his troubles are not over at the end of this year. Indeed Bankruptcy of FTX after a month it will have a significant impact on the ecosystem. So far, it’s $112 million that’s gone up in smoke. An Oracle-related flaw would allow an attacker to artificially inflate collateral to borrow more funds than they can afford.
A hacker will eventually found by the FBI two months later In Puerto Rico. A person who claims to be acting within the legality and boundaries of the DeFi protocol will see whether justice has served him or not. He is currently accused of fraud and market manipulation.
FTX, hacker blame for bankrupt exchange – $400 million
What would the hack series be without the FTX platform? The latter found himself not content with stealing his customers’ money he himself was tricked by a malicious hacker. Time will tell if this is an internal company hack or not. The amount stolen is no small amount. 400 million dollars. Mid-November is therefore another nightmare for customers who are already out of cash. Indeed, while any withdrawal remains unlikely, FTX wallet addresses, which are closely watched by the crypto community, suddenly began dispersing their funds through various networks.
A thief, anyway, would be is far from being an expert on the subject. Not content with using a wallet address from the Kraken platform in the maneuver, he would also use platforms such as Uniswap, 1Inch or Cowswap to convert the stolen tokens. Especially if he tried to move his loot from one place to another to cover his tracks, he would lose a lot of money.
Ankr hack never ends – $6 million
It’s early December DeFi Ankr protocol WHO is subject to a major hack. These are 20 trillion aBNBc, the equivalent of BNB on the Ankr network, created out of nothing, instantly reducing the price of the token to zero. Although the authors were far from turning over the entire jackpot in time, they managed to get away with $6 million that was stolen and sent to Uniswap or Tornado Cash.
The cryptocurrency ecosystem remains a risky sector, in which we are very hacky. Nevertheless, it is also a very promising and future-oriented technological field. An adolescent domain in the grip of a destructive creation that is inevitably under attack due to the many innovations it innovates. The flip side of any emerging technology. This does not take anything away from the blockchain and cryptocurrencies that carry huge values. Basics that may one day allow us to finally achieve financial freedom who keeps us so hacker.
Hacks are an unfortunate threat, but not inevitable. Need peace of mind for your cryptos? Register quickly on the Binance platformget the gold standard in the industry and save 10% on your trading fees by following this link (trade link).