DeFi Hackers Steal a Record $1.57B in the First 4 Months of 2022, Surpassing the $1.55B total Stolen in 2021 10

DeFi Hackers Steal a Record $1.57B in the First 4 Months of 2022, Surpassing the $1.55B total Stolen in 2021

Summary:

  • According to PeckShield, $1.57 billion in digital assets has been stolen from DeFi protocols in the first four months of 2022
  • This amount has surpassed the total stolen in 2021: $1.55 billion
  • Beanstalk Farm’s $182 million exploit was the highest in April, followed by Fei Protocol at $80 million
  • 2022 could end a record-breaking year in terms of digital assets lost to DeFi hackers

DeFi hackers have had an eventful first four months of 2022. According to the blockchain security team at PeckShield, DeFi exploiters have netted $1.57 billion in cryptocurrencies from January to April of this year. Additionally, the amount has already exceeded the total stolen by DeFi hackers in 2021: $1.55 billion.

The team at PeckShield shared their observation through the following statement and accompanying infographic.

As of May 1, 2022, the exploits have netted $1.57 billion from DeFi, which already surpasses the $1.55 billion stolen by exploiters throughout 2021.

DeFi Hackers Steal a Record $1.57B in the First 4 Months of 2022, Surpassing the $1.55B total Stolen in 2021 11
$1.57B lost in 2022 between Jan and April has eclipsed the $1.55B lost throughout 2021

2022 Could be A Big Year for DeFi Hackers and Amount in Digital Assets Lost

From the detailed infographic, it can be observed that the Beanstalk Farms exploit of $182 million was the largest in the month of April. Fei Protocol’s $80 million and Aku Dreams’ $34 million hacks come in second and third, respectively, in the same month.

Furthermore, the infographic highlights that the amount stolen from DeFi protocols in the last four months is a clear indicator that 2022 could be a record-breaking year in terms of the value of digital assets lost due to hackers.

In a similar observation back in mid-April, the team at Chainalysis had released a report that pointed out the same rapid pace at which DeFi protocols were losing funds to hackers in 2022. They explained:

…in 2022, [DeFi hackers are] shaping up to steal even more.

In the first three months of this year, hackers have stolen $1.3 billion from exchanges, platforms, and private entities—and the victims are disproportionately in DeFi.

Almost 97% of all cryptocurrency stolen in the first three months of 2022 has been taken from DeFi protocols, up from 72% in 2021 and just 30% in 2020.

Axie Infinity’s $615 Million Hack is 40% of the Amount Lost in 2022

To note is that the amount lost in 2022 has been dramatically increased by the $615 million Axie Infinity hack by the state-sponsored North Korean hacker group known as Lazarus. The loss in late March translates to 40% of the total lost in 2022 thus far.