Crypto Hacks Soar, Causing Over $1 Billion in Losses This Year

A new report found over $1 billion lost in crypto this year, with over $600 million lost in Q3 alone.

Two major factors driving the big losses significantly more successful hacks, and a few huge hacks like Mixon and Multichain.

Ethereum remains the top target for hackers because that's where the money is, and it offers sovereignty assurances.

Scams don't seem to be growing as much as hacking, likely because crypto is less hot overall now.

Hackers tend to stay committed once they invest in building capabilities, so we should expect hacking attempts to continue increasing.