SlowMist Hacked Statistics reveals that over $30 billion has been stolen from blockchains, raising concerns about the security of the blockchain and cryptocurrency industry.
- SlowMist Hacked Statistics reveals a staggering $30 billion+ stolen from blockchains, raising concerns about blockchain and cryptocurrency security.
- Exchanges are the most affected sector, with 118 incidents resulting in losses close to $10.95 billion, followed by the ETH Ecosystem with losses exceeding $3.12 billion.
- The BSC Ecosystem and the Other category also experienced significant losses, while the NFT sector suffered approximately $200 million in losses.
Recent research conducted by SlowMist Hacked Statistics has revealed a shocking statistic – the total amount of money stolen from blockchains is an alarming $30,011,604,576.24. This revelation has sent shockwaves through the industry.
According to SlowMist, the cryptocurrency field has lost more than 30 billion U.S. dollars due to hackers, and there were 1,101 hack events; the largest amount of money hacked cases occurred from 2019 to 2021; the highest proportion is still the crypto CEXs events, more than 10…
— Wu Blockchain (@WuBlockchain) July 7, 2023
Mounting Concern Over Blockchain Security
The report, which analyzed a total of 1,101 hacking incidents, has once again highlighted the growing concerns surrounding the security of blockchain technology and cryptocurrencies. As these technologies gain more popularity, the need for robust security measures becomes increasingly urgent.
The research study delved further into the losses by category, uncovering the sectors most affected by these security breaches. Topping the list is the Exchange category, which experienced 118 occurrences resulting in losses close to $10.95 billion.
The ETH Ecosystem came in second, with 217 incidents and losses exceeding $3.12 billion. The BSC Ecosystem and the Other category also suffered significant losses. The former had 162 incidents resulting in losses of around $10.95 billion, while the latter experienced 184 incidents leading to losses of approximately $1.45 billion.
Notably, the study revealed that the NFT (Non-Fungible Token) business has not been immune to security vulnerabilities. The survey identified 85 instances in this category, causing losses of approximately $200 million.
The findings shed light on the vulnerabilities present in various blockchain ecosystems. For example, within the EOS Ecosystem, there were 119 occurrences resulting in losses around $25.9 million.
Addressing the Industry’s Security Challenges
This research serves as a stark reminder of the security challenges faced by the blockchain and cryptocurrency industry. It emphasizes the need for comprehensive security policies and procedures. As the industry continues to grow and evolve, these measures will become even more crucial.
However, these alarming figures also present an opportunity for information security firms specializing in blockchain and cryptocurrency technologies. As the industry strives to address the highlighted security concerns, there will be an increased demand for advanced security solutions, creating new avenues for growth and innovation in cybersecurity.