The worst Crypto Hacks of 2022 [ Crypto Espresso 23.12.22 ]

Well on the ninth day of Christmas Crypto espresso gave to me that's right I'm your host Andrew and until the new Year will be counting down all of the Biggest crypto stories of 2022 and Today's countdown well crypto didn't Have a great 2022 so don't expect this List to be all sunshine and rainbows Because today we'll be discussing oh the Worst crypto hacks of 2022 but before we Get started on today's list make sure to Ask Alex in that description below about The CMC 50. we want our community to Tell us what the 50 biggest crypto news Stories of 2022 were so make sure to Check out our link and vote like you've Never voted before billions with a B of Dollars have been lost to crypto hex This year with experts warning that it's Standing in the way of mainstream Adoption bugs in code and sloppy Security measures are often to blame Here cyber criminals often feel Emboldened by how some police forces are Behind the curve and investigating these Cyber crimes here are the top 10 10 big Trends from 2022 one investigators are Catching up developments in blockchain Analytics means detectives have far Greater resources in monitoring the flow Of stolen funds and in some cases it can Be pretty difficult for attackers to Start spending their loot exchanges are Also springing into action to stop

Illicit funds from moving off their Platforms two there was an upbeat Milestone in 2022 more hacked funds were Recovered this year than were stolen in Just two cases alone the Department of Justice seized almost 7 billion dollars In Bitcoin 3.36 billion dollars stolen In 2012 from the Silk Road dark web Marketplace and 3.6 billion dollars Stolen in 2016 from The bitfenix Exchange three crypto projects must get Better at auditing their code D5 Protocols often endorse scrutiny when They first launch but as we've seen Subsequent upgrades aren't stress tested Enough for security flaws this can Result in embarrassing loophole is being Exploited to the tunes of hundreds of Millions of dollars for when it comes to Validators there is safety in numbers Ronin Network which lost 625 million Dollars in a pretty audacious hack had Only nine validators this meant hackers Just needed five passwords to commence Withdrawals and to make matters even Worse it took six days for developers to Notice that funds were even missing five North Korea is a thorn in the crypto Industries side Hackers from the Lazarus Group are capitalizing on lack Security In the sector to steal funds from crypto Firms and this money is then being used To fund the Rogue State's nuclear Weapons program this whole messy

Situation prompted the US to Controversially sanction tornado cash Earlier this year six cyber criminals Are getting worryingly sophisticated Most consumers know a giveaway scan when They see one so attackers are now Stepping up their game this year we saw Countless Discord servers and Twitter Accounts hacked and in one month Official channels will belonging to Openc and beeple were targeted 7. Security warnings aren't always listened To Horizon Bridge was hacked to the tune Of a hundred million dollars back in June that's two months after a crypto Influencer warned that its security was Based on a multi-sig wallet that had Only four owners D5 projects and Investors alike must get better at Taking action when these concerns are Raised eight pour one out for cross Chain Bridges because they were this Year's biggest victims they've proven to Be the most vulnerable and valuable for Hackers from Wormhole to Ronin network From Horizon to Nomad the worst hacks of 2022 have been dominated by platforms That allow crypto assets to move from One blockchain to another nine some Hacks added insult to Serious injury FTX Customers were devastated after the Exchange was tipped into bankruptcy but Things went from bad to worse when the Platform was hacked for 477 million

Dollars just a few hours later several Experts and even Sam bankman freed Himself have suggested that this could Have been an inside job and 10 10 years Can pass but hackers can't get away from The long arm of the law James Zhang Stole 50 676 Bitcoin from the Silk Road darknet Market in 2012. after a decade Detectives discovered a circuit board Storing the crypto stash at the bottom Of a popcorn tin we won't stop following The money no matter how expertly hidden Prosecutors said and speaking of strong Evidence finally popping up a kernel of Evidence has appeared that you should Like this video subscribe to our YouTube Channel and click on that little bell Icon to get buzzed whenever a new crypto Espresso video goes live again I've been Your host Andrew and we'll be exploring More of 2022's biggest crypto stories Tomorrow have a good one