Crypto Attacks in December 2022: Low Loss of $62M Brings Relief

• December 2022 crypto attacks resulted in a relatively low loss of $62 million.
• This makes it the least harmful month of 2022, which was the worst year for crypto attacks.
• The two most notable crypto attacks of December 2022 were the Defrost Finance $12 million hack and Helio Protocol $15 million exploit.

The year 2022 was an infamous one for the crypto and blockchain sectors, as criminal activities such as scams and hacks resulted in a massive $3.7 billion loss throughout the year. This made 2022 the worst year for such activities in the history of the two sectors.

However, the month of December proved to be somewhat of a reprieve, as market participants were able to cheer a few instances of cheer-worthy news. December 2022 saw a relatively low loss of $62 million worth of stolen tokens, scams, or hacks. This made it the least harmful month of the year, in comparison to November 2022, which had an overwhelming $595 million worth of crypto-based attacks.

The two most notable crypto attacks of December 2022 were the Defrost Finance $12 million hack and Helio Protocol $15 million exploit. Defrost Finance’s attack allegedly came as a result of a complex phishing scam, which tricked users into downloading a malicious application. On the other hand, Helio Protocol was the victim of an exploit which was identified by its developers. The exploit allowed hackers to mint Helio tokens on the platform, thus resulting in a loss of $15 million.

Despite these attacks, the month of December 2022 proved to be a relatively low-risk period in the crypto and blockchain sectors. It was the least harmful month of the year, and hopefully, the industry can continue to take measures to ensure that crypto attacks and scams become even rarer in the near future.