Financial Markets

LOSSES FROM CRYPTO HACKS SURGED 60% TO $1.9 BILLION FROM JANUARY TO JULY, CHAINALYSIS SAYS

Losses arising from cryptocurrency hacks jumped nearly 60% in the first seven months of the year to $1.9 billion. Chainalysis noted that the trend is not likely to reverse any time soon, given the $190 million hacking of cross-chain bridge Nomad and $5M hacking of several Solana wallets. The U.S. firm estimates that so far this year, North Korea-affiliated groups have stolen approximately $1 billion of cryptocurrency from DeFi protocols.
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