2022’s Holiday Hiccups in Cybercrime
As December rolled in like a slow-moving turtle, the usual cryptocurrency heists seemed to take a little holiday break. According to blockchain security enthusiasts at CertiK, the month reported a theft tally of only $62.2 million, marking it as the slowest month of the year for cryptographic crooks. Perhaps even they are lured by the fancy holiday lights and festive cookies.
The Not-So-Great Escape: Exit Scams Rule the Month
In December, exit scams topped the charts with a bang, or rather a clink of ill-gotten coins, totaling $15.5 million. Meanwhile, flash loan exploits pulled in a paltry $7.6 million. Remember: if it sounds too good to be true, it probably is, especially when it comes with a slick user interface and promises of moonshots!
Notable Heists: The Hits of December
December had its share of dramatic exploits, as highlighted by CertiK:
- The Helio Protocol Meltdown: On December 2, a trader borrowed 16 million HAY due to a price glitch, leaving the protocol with a serious case of collateral deficiency.
- Defrost Finance’s Fiery Fall: A flash loan attack on December 23 helped an attacker claim $12.9 million, using a fabricated collateral token like a magician pulling a rabbit from a hat!
Comparative Crime Rates: December Versus November
To put things in perspective, December’s losses were a staggering 89.5% lower than November’s bombshell — $595 million spilled through the cracks of 36 various incidents, courtesy of the infamous FTX hack contributing a whopping $477 million of that chaos.
Looking Ahead: A Lesson or Two for Investors
Though the numbers might instill a false sense of security, it’s crucial to keep up your guard, especially as we march into 2023. Always remember to perform due diligence: audit, KYC, and yes—read those boring audit reports! This is your money at stake, after all!
