Later, it was revealed that North Korean hacking group Lazarus obtained access to five private keys used to sign transactions from five Ronon Network validator nodes. Lazarus used this method to steal 173,600 ETH and 25.5 millionThe second largest exploit of 2022 occurred in February when attackers used a forged signature to bypass verification on the Wormhole token bridge before minting $326 million in cryptocurrency.
Crowd looting became a news highlight when an insecure smart contract configuration on the decentralized finance token bridge Nomad allowed users to withdraw an unlimited amount of funds in August. More than $190 million were drained during the process. In October 2022, a market manipulation exploit in which a hacker purchased and artificially inflated its tokens before taking out under-collateralized loans from the project’s treasury. The flash loan attack resulted in the theft of $116 million.
Oracle issue hacks resulted in the theft of $54 million in funds. Hackers used this method to gain access to an Oracle service and manipulate its price feed data service. This would force smart contract failure or conduct flash loan attacks.In 2022, phishing attacks alone stole $17 million in cryptocurrency. Between 2017 and 2020, attackers used this method to steal login credentials and private keys from unwitting victims.
The largest hacking incident of the current year is an Oracle attack that took place in February 2023. Through an Oracle hack, hackers could manipulate the price of the Alliance Block token. In doing so, they stole $120 million from the protocol.Subscribe to get it daily in your inbox.