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Most cases of digital currency theft in 2020 occurred in the field of defense

The crime report of Blockchain Analysis Company CipherTrace (CipherTrace) indicates that the number of attacks and thefts in the decentralized finance sector (DeFi) has reached a record, along with the significant growth of transactions in this area.

To Report The Block accounted for more than 50 percent of digital currency thefts in 2020 due to defaults, totaling $ 129 million. This is equivalent to more than 25% of the total number of hacks and similar incidents this year.

In 2020, something like 18 protocols were attacked, which, according to Cypher Tracy, is the highest number of defaults in a year. One notable attack was the theft of $ 8 million from the bZx lending protocol, which was targeted twice by hackers in February for a flaw in its code.

The biggest hack took place at the central KuCoin exchange in September, during which hackers stole $ 281 million from the Singaporean exchange. But hackers managed to get rid of it by laundering money through Uniswap, one of the largest decentralized exchanges, and then through Tornado Cash.

Overall, the average amount stolen from each protocol in 2020 was $ 6 million, according to Cypher Trace.


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