Wednesday, February 28, 2024

Over $30 Billion Lost to Blockchain Hacks, Reveals SlowMist Hacked Statistics

According to a research by SlowMist Hacked Statistics, the total amount of money that has been stolen from blockchains is an astounding $30,011,604,576.24. This information comes as a stunning surprise.

The data, which encompasses a total of 1,101 hack occurrences, highlights the mounting worries over the sector’s security as blockchain and cryptocurrencies continue to gain popularity.

The study includes a thorough analysis of the losses by category, showing the sectors that have been most impacted by the aforementioned security breaches.

The Exchange category is at the top of the list with 118 occurrences that resulted in losses of nearly $10.95 billion.

The ETH Ecosystem is next, which has had 217 occurrences and losses totalling more than $3.12 billion during the duration of its existence.

The 162 and 184 events, respectively, have resulted in significant losses for both the BSC Ecosystem and the Other category. Losses from both incidents have totaled around $10.95 billion and $1.45 billion, respectively.

It’s noteworthy to observe that these security vulnerabilities have not spared the recently flourishing NFT business.

The survey found that there were 85 instances in this category, resulting in losses of about $200 million.

These findings also bring to light the vulnerabilities that exist among a variety of blockchain ecosystems.

For example, the EOS Ecosystem has been subjected to 119 occurrences, which have ultimately resulted in losses of around $25.9 million.

This research provides as a sharp reminder of the security difficulties that the blockchain and cryptocurrency industry confronts and acts as an excellent resource for doing so.

The need of implementing comprehensive security policies and procedures is only going to increase as the industry continues its process of growth and development.

The figures raise concerns, but they also provide a chance for information security firms that concentrate on blockchain and cryptocurrency technologies.

As the industry strives to address the security concerns that have been highlighted, demand for more advanced security solutions is predicted to rise. This will provide new possibilities for growth and innovation in the area of cybersecurity.

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