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Crypto Hackers Set for Record Year After Looting Over $3 Billion

  • Consultancy Chainalysis has detected 125 hacks so far in 2022
  • Losses undermine confidence in crypto-based financial services

Cryptocurrencies may have crashed this year but they remain a digital cash-machine for one potent constituency: hackers.

At least $718 million has been stolen so far in October alone, taking the gross tally for the year past $3 billion and putting 2022 on course to be a record for the total value hacked, according to blockchain specialist Chainalysis Inc.