Crypto: a bad month or “Hacktober”, says PeckShield

Analysts agree: 2022 was by no means a favorable year for the crypto market. The situation even seems to be getting worse day by day if we refer to the latest reports published by PeckShield. This blockchain security company goes so far as to say that October would be the worst month of the year. The proof he presents a most catastrophic result. Hence the term “Hacktober”!

2022 Hands Down The Worst Year For The Crypto Industry And October The Worst Month: PeckShield Reports Reveal

Crypto market: an alarming record!

This year 2022 is not only marked by a bearish trend in crypto prices. Blockchain security firm PeckShield raises other bigger issues. In his report, she notably reveals that more than 53 crypto companies were victims of theft in the month of October alone. A crypto exploit record broken without a doubt, with 44 exploits implemented affecting 53 crypto protocols!

Even worse ! Statistics show a considerable loss: a total of $2.98 billion in stolen digital assets as of October 31, 2022. This corresponds, within a few values, to double the $1.55 billion lost in 2021 ( i.e. about 12 times the total recorded in 2020).

A Disastrous Month: Hacktober

According to PeckShield, the total amount of crypto funds drained this October is $760 million. So far, only $100 million has been repaid. In March, the hacked funds amounted to approximately $710 million. A little less than those recorded in October.

According to this blockchain security company, the biggest achievement this month remains the BNB chain: a loss of around $586 million. Other well-known crypto companies that have been victims of theft and scams: Moola Market and Celo. These are all DeFi platforms. Note that PeckShield counts MakerDAO among its largest customers. It is the largest DeFi protocol.

The statistics published by PeckShield on October 31 relate two important facts: the volatility of the crypto market and the more than urgent nature of the regulation of this ecosystem. Data that inevitably joins those published by Chainalysis in mid-October.

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