Chainalysis estimated the damage from hacking of cross-chain protocols since the beginning of the year at $ 2 billion

The amount of stolen funds as a result of 13 attacks on cross-chain protocols has reached $2 billion since the beginning of the year. Such estimates were given by Chainalysis analysts.

The share of attacks on bridges amounted to 69% of the volume of all funds stolen by attackers in 2022.

The last such episode was the hacking of the Nomad protocol in the Evmos ecosystem on August 2.

“As the value transferred through cross-chain protocols increases, their attractiveness in the eyes of hackers increases. This poses a serious threat to building trust in blockchain technology,” the experts said.

Analysts noted that groups associated with North Korea are also taking part in this. As a result, they managed to gain control over assets worth $1 billion, including as a result of attacks on bridges.

Experts stressed that the design of cross-chain protocols is still a technical problem. In their opinion, its solution can only be an extremely strict code audit. This will allow you to eventually create a library of reliable and secure smart contracts that will become templates for other developers.

Earlier, Chainalysis launched a hotline for victims of cryptocurrency crimes.

Recall that in June, unknown persons hacked the Horizon cross-chain protocol associated with the Harmony blockchain. The damage amounted to about $100 million.

Ethereum founder Vitalik Buterin has previously stated that he is “pessimistic” about bridges. In his opinion, the latter are vulnerable to attacks like 51%.

Read more about what cross-chain bridges are in the ForkLog educational cards.

The amount of stolen funds as a result of 13 attacks on cross-chain protocols has reached $2 billion since the beginning of the year. Such estimates were given by Chainalysis analysts. The share of attacks on bridges amounted to 69% of the volume of all funds stolen by attackers in 2022. The last such episode…