Crypto hackers set for record year after looting over US$3bil

Hackers have become adept at exploiting weaknesses in the security, coding and structure of DeFi marketplaces. — Dreamstime/TNS

Cryptocurrencies may have crashed this year but they remain a digital cash-machine for one potent constituency: hackers.

At least US$718mil (RM3.37bil) has been stolen so far in October alone, taking the gross tally for the year past US$3bil (RM14.10bil) and putting 2022 on course to be a record for the total value hacked, according to blockchain specialist Chainalysis Inc.