Biggest crypto hacks of 2021

In 2021 we saw an incremental rise in the adoption and interest in the cryptocurrency industry, leading to the increase in the development and investment of DeFi platforms.

Some of the biggest cryptocurrency hacks faced in 2021:

More than $600m in assets were stolen from the multi-chain protocol, including $264m worth of assets stolen from Ethereum wallets, $250m from Binance Smart Chain wallets and $85m from Polygon.

Following the hack, the cryptocurrency industry banded together to stop the funds being used and ‘laundered’ by the hacker. They publicly warned the hacker that this much money stolen would gain the attention of law enforcement worldwide and that they should return it. Surprisingly, they returned USD 342 Million outright.

The platform also promised to grant the hacker a $500,000 bounty for identifying their system’s flaws and even offered them the chief security advisor position.

Crypto exchange Bitmart lost nearly $200 million in a hot wallet compromise hosted over the Ethereum and Binance Smart Chain blockchains in December.

In December, the play-to-earn NFT game Vulcan Forged had a total of $140m of PYR tokens stolen from compromised wallets.

Hackers reportedly accessed the keys of 96 wallets, stealing 23.7% of the project’s circulating supply of tokens. The gaming ecosystem provides players with these crypto wallets built on Ethereum, Polygon, and VeChain blockchains and manages the key to these wallets. A majority of the assets were taken from users’ wallets, which were linked to an integrated wallet service called Venly.

The team reimbursed users from its treasury.

Hackers stole an estimated $130 million worth of cryptocurrency assets from Cream Finance, a decentralized finance (DeFi) platform that allows users to loan and speculate on cryptocurrency price variations.

All attacks were flash loan exploits, a common way through which most DeFi platforms have been hacked over the past two years.

The hacker used a compromised API key that was created without the knowledge or authorization of Badger engineers to periodically inject the malicious code that affected a subset of its customers.

The hacker ultimately stole $130 million in funds, but approximately $9 million of that was recoverable since those funds were transferred by the hacker but not yet withdrawn from Badger’s vaults.

Badger has since patched the Cloudflare exploit, updated Cloudfare’s account password and deleted or freshened API keys where possible. Badger hired cybersecurity firm Mandiant and blockchain analysis firm Chainalysis to investigate the exploit, and is working with both companies, as well as authorities in the U.S. and Canada, to recover any funds possible.

Related posts:

When modeling data in Looker, Tableau, and similar BI tools, we think of our data in terms of measures and dimensions. Measures are quantitative fields that can be aggregated — views, clicks, number…

Remote working is the new normal. There are so many benefits to it, but there are many challenges as well. You’ll be working on a project together with your team, but it is harder to collaborate when…

bibit sawo jumbo buah alano sudah berbuah siap tanam bibit buah sawo sudah berbunga bibit hasil okulasi bisa di tanam di pot Sawo jumbo vietnam memiliki rasa buah manis segar berair, Jenis Sawo…