Cryptocurrency thefts reached record levels in 2022

02/05/2023

4,6

★

According to research, the percentage of cryptocurrency stolen by hackers in 2022 has reached a record high of nearly $4 billion in annual digital coin thefts. Such figures only heighten security concerns in the digital asset market and especially in decentralized finance (DeFi).

Eun-Yong Choi, director of the National Cryptocurrency Enforcement Team (NCET), said DeFi's main problem is that "developers put growth before anything else. DeFi generally does not strive for better security and targets predominantly high performance protocols, putting all users' digital assets at risk.

Nevertheless, experts continue to analyze the possibilities and suggest a number of improvements for DeFi, such as standardizing the funds management process, more code reviews by third-party firms, and better disclosure to investors.

Subscribe to Cryptonica.News
on social networks

The materials found on the Cryptonica website shall not be taken as individual investment recommendations. The financial instruments or operations mentioned therein may not align with your investment profile or objectives. We assume no responsibility for any missing facts or inaccurate information in the texts. Cryptocurrencies are financial assets with high risk and volatility. Therefore, it is crucial that you conduct your own research on financial instruments and make independent decisions. Before engaging in any actions related to cryptocurrency, you shall study, understand, and comply with the laws applicable in your region and country.