Crypto hacks are declining in numbers but increasing in damage #TOGRP7

Cryptocurrency hacks have been significantly decreasing in numbers since the beginning of the year. According to the latest research from BestBrokers, the industry saw 64 security breaches by mid-June — a sharp decline from last year’s 251 hacks.

However, while the number of successful hacks has been decreasing, the damage they’ve done to the industry certainly hasn’t. Data has shown that the average amount stolen per crypto hack has increased by 206% compared to the 2021 average. The latest data from Chainalysis showed that the average amount stolen per crypto hack this year is $26.6 million — a 206% increase compared to the 2021 average of $12.9 million. This number becomes even higher compared to the 2020 average of $4.7 million stolen per hack, representing a 465.9% increase.