Is 2022 “the year of the crypto hack” as this attempt makes the “Hacktober” list

Is 2022 “the year of the crypto hack” as this attempt makes the “Hacktober” list

A group of individuals hacked the official Twitter account of cryptocurrency exchange, and proceeded with a scam [USDT] giveaway scheme. The hacking effort has put over one million users at risk of losing their crypto holdings.

This unknown group of hackers broke into’s Twitter account and changed the URL. The website was changed from to gą Additionally, the website appeared to be a real cryptocurrency exchange but was a fraudulent website based on an exchange.

The beauty of the hack attempt. The fraudulent website aggressively promoted a 500,000 USDT giveaway, asking visitors to link their wallets (such as MetaMask) to receive the claims. When a user linked their wallet to this fake website, the hackers gained access to their crypto holdings and were able to drain them.

PeckShieldAlert, a Twitter user was quick to investigate and discovered the phishing site. It also went further and warned users against losing private keys.

2022: The worst year for crypto hacks… On October 13, research firm Chainalysis revealed that October had already become the worst month ever for crypto-related crimes with over $718 million in total losses. Funds were stolen from various decentralized finance (DeFi) protocols during 11 different attacks.

According to the report, this year is expected to surpass 2021 as the most productive year for hacking ever. Through 125 hacks, hackers have earned more than $3 billion. After a $325 million attack on the popular cross-chain service Wormhole, a $625 million attack on Axie Infinity’s Ronin bridge and a $200 million attack on the Nomad bridge also found.

See also  Why You Shouldn't Use Instagram Follower Tracking Apps

Decentralized apps that are not thoroughly audited provide easy and consistent short-term profit for protocols. Poorly protected protocols are easy pickings for hackers who take advantage of their highly vulnerable locks.

Leveraging bridges, a blockchain-based tool, allows users to trade between different networks. It also enables market manipulation. Rogue traders spend millions of dollars to move thinly traded markets in their favor.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *