Crypto Hacks Surge in 2022: US, UK Top Targets, Ethereum, Bitcoin Hit Hard
The global crypto landscape in 2022 was marked by a surge in hacks and breaches, with the United States and the United Kingdom topping the list of targeted countries. Meanwhile, Asian regions also faced significant challenges, and certain cryptocurrencies and platforms emerged as frequent targets.
The United States experienced the highest number of crypto incidents in 2022, with 13 hacks and breaches. The United Kingdom closely followed with 11 incidents. Notably, Asian regions South Korea, Japan, Hong Kong, and China ranked third to fifth respectively, indicating a growing concern in the region.
Cryptocurrencies were not spared. Ethereum was stolen 33 times in 2022, while Bitcoin remained the most targeted, featuring in 94 crypto scams since records began. Binance Smart Chain (BSC) was the most targeted platform in 2022, with 50 incidents.
The Plus Token Ponzi scheme was the largest crypto scam of the year, resulting in a staggering US$3 billion in losses. Worldwide, there were 120 crypto fraud and breach incidents in 2022, a significant increase from the 94 incidents reported in 2021.
Singapore, ranking 9th among targeted countries, experienced four hacks and breaches since 2011, totaling US$14.6 million in losses. Last month, a high-profile scam costing over US$10 million affected five individuals. Despite efforts to combat such frauds, the identities of these victims remain confidential.
The increasing number of crypto hacks and breaches, particularly in major countries and on popular platforms, underscores the need for enhanced security measures and consumer awareness. As cryptocurrencies continue to gain traction, so too does the importance of robust protection against fraudulent activities.
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