Hackers Stole $670 Million in Digital Assets in Q2 2022

Between April and June, there were 50 hacks that caused crypto platforms to lose more than $670 million, according to a report from blockchain security company ImmuneFi.

While the frequency of attacks increased from the first quarter, the amount of money lost was less. There were 25 attacks in the first quarter in which hackers stole $1.2 billion worth of digital assets.

In Q2 2022, most of the losses were due to hacks of DeFi protocols rather than blockchain bridges (platforms for transferring data between networks), as in January through March.

Specifically, Axie Infinity’s Ronin bridge was robbed of more than $625 million, and the Wormhole bridge on the Solana network was attacked for $326 million.

Projects hacked between April and June included Beanstalk’s DeFi-Protocol (for $182 million), Harmony Network’s Horizon Bridge (for $100 million), Mirror Protocol (for $90 million) and Fei Protocol (for $80 million).