Losses from crypto hacks surged 60% to $1.9 billion in Jan-July -Chainalysis

FILE PHOTO: A representation of virtual currency Bitcoin and small toy figures are placed on computer motherboard in this illustration taken January 7, 2021. Picture is taken January 7, 2021. REUTERS/Dado Ruvic/File Photo

NEW YORK (Reuters) - Losses arising from cryptocurrency hacks jumped nearly 60% in the first seven months of the year to $1.9 billion, propelled by a surge in funds stolen from decentralized finance (DeFi) protocols, according to a blog post from blockchain analysis firm Chainalysis released on Tuesday.

In the same period last year, stolen funds from hacking amounted to $1.2 billion.