Hackers stole $3.8 billion from crypto investors (mainly through Defi) in 2022 - page 2.

wheelz1200

legendary

Activity: 3738

Merit: 1415

Quote from: headingnorth on February 01, 2023, 03:09:38 PM

Reason number 1007 why I don't want anything to do with altcoins or defi nonsense. They are a hackers wet dream.
Tens of millions of staked assets were also lost or hacked from Blockfi, Celsius, etc.

Seems to me ethereum staking (through which you have no self-custody) would be the next big juicy target for hackers.
Which is why proof of stake is horribly risky and unsecure imo.

Quote

Hackers stole $3.8 billion from crypto investors in 2022, a 13% increase from 2021 and marking a new all time high for annual theft of digital coins.

This rise in crypto hacks is just the latest indicator to underscore how security within the digital asset market, especially Decentralized Finance (DeFi), remains a major obstacle for the industry.

https://finance.yahoo.com/news/hackers-lifted-38-billion-from-crypto-investors-in-2022-132405068.html

Agreed. Staking on these shaky platforms for high yield is too good to continually pay off. There is no way I'd stick my money in most of these things either. Greed will catch up to everyone and the amount of crypto that is scammed or stolen will continue because greedy actions breeds dumb decisions. Buy, hodl, go outside 😀

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

Or just in general, do not trust these projects that can potentially ruin your finances once they got the opportunity. Most of the DeFi hacks were perpetrated by the team of the project themselves, and in order for anyone to not be a victim, they better think thrice before investing their money into similarly schemed investments in the crypto space.

Honestly, I don't find PoS risky, only if you have the funds yourself in your own wallet. But the moment you hand them over to someone to 'multiply' whatever you have right now, that's the time you have screwed up and there is a high chance that the scam is going to happen any time soon.

Not your keys, not your coins.

Ojima-ojo

hero member

Activity: 826

Merit: 481

Records have it that the amount of money lost to scammers and hackers through defi in 2022 alone is more than the total amount stolen in both ICOs-IEO and other hypes put together.

The major reason why we should avoid the hype and concentrate on potential projects that have long-term value traction and market value that make it impossible to be manipulated.

Because most of that Defi hacks and scams are insider jobs, the majority of them are perpetrated by the team themselves, in the form of exit scams.

headingnorth

member

Activity: 260

Merit: 42

NO SHITCOIN INSIDE

Reason number 1007 why I don't want anything to do with altcoins or defi nonsense. They are a hackers wet dream.
Tens of millions of staked assets were also lost or hacked from Blockfi, Celsius, etc.

Seems to me ethereum staking (through which you have no self-custody) would be the next big juicy target for hackers.
Which is why proof of stake is horribly risky and unsecure imo.

Quote

Hackers stole $3.8 billion from crypto investors in 2022, a 13% increase from 2021 and marking a new all time high for annual theft of digital coins.

This rise in crypto hacks is just the latest indicator to underscore how security within the digital asset market, especially Decentralized Finance (DeFi), remains a major obstacle for the industry.

https://finance.yahoo.com/news/hackers-lifted-38-billion-from-crypto-investors-in-2022-132405068.html

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