Rosie Jones https://coinjournal.net 1m 256
The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
The UK 2nd most targeted country for crypto breaches and frauds with $420 million in funds stolen
New data reveals the UK is the 2nd most targeted country for crypto fraud with $420 million in funds stolen.
Value of Breaches
The United Kingdom is in second place with 11 hacks and breaches. The most expensive of these was in November 2017 when $155 million worth of ETH was locked after a user accidentally used a contract vulnerability.
2022 was the worst year for crypto fraud and breaches, with 120 different incidents occurring during the year. This was 26 more than the previous year, which equates to an increase of almost 28%.
The most costly crypto scam was by Plus Token, where almost $3 billion worth of Bitcoin and Ethereum was stolen.
BSC was the most stolen coin in 2022, with the currency being stolen a total of 50 times. This was a 72% increase from 2021 when it was stolen just 29 times. The second most commonly stolen coin was ETH at 33 times.
The most common crypto attack was DeFi breaches, happening 167 times, with almost $4 million lost. They were also the most common type of breaches during 2022, with 80 DeFi breaches occuring in 2022 alone.