--- title: 'Crypto Hackers Stole Record-High $3.8 Billion Last Year: Report' description: Is your crypto safe? Crypto investors lost a record-high $3.8 billion in crypto hacks in 2022, an analysis from Chainanalysis shows. authors: - name: Sarah Hansen role: Senior Writer url: https://money.com/author/sarah-hansen/ bio: Sarah Hansen is a senior writer at Money covering all things personal finance. Previously, she covered economic policy and capital markets on the breaking news desk at Forbes. education: Northwestern University, New York University at_money_since: 2021 articles: 347 covers: - Investing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Housing - Insurance - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes social: - https://www.linkedin.com/in/sarah-m-hansen/ former_staff: true editors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Investing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2023-02-02T17:53:50.000Z' modified: '2024-01-10T17:49:07.000Z' section: Investing tags: - Cryptocurrency - News - Scams word_count: 319 canonical: https://money.com/crypto-scams-hackers-stole-billions-2022/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Collage of Bitcoin, thief and electronics](https://img.money.com/2023/02/News-Crypto-Stolen.jpg) The [cryptocurrency](https://money.com/what-is-cryptocurrency/) market may have [floundered in 2022](https://money.com/bitcoin-price-predictions-2023/), but scammers had a banner year — with investors losing a record-high $3.8 billion due to crypto hacking. ## What the data shows A staggering $3.8 billion was stolen from cryptocurrency businesses in 2022, according to a [new report](https://blog.chainalysis.com/reports/2022-biggest-year-ever-for-crypto-hacking/) from the crypto analytics company Chainalysis. That’s the most ever in a single year. In 2021, $3.3 billion was stolen from crypto hacking. Interestingly, the number of crypto attacks actually fell from roughly 250 in 2021 to roughly 200 in 2022, the report shows. Chainalysis attributes much of the crypto theft in 2022 to North Korean hackers, estimating that criminals linked to the country stole an estimated $1.7 billion worth of cryptocurrency last year. “In 2022, they shattered their own records for theft,” the report reads. ## In the news Crypto hacks dominated the headlines last year: - Last summer, the blockchain associated with the popular game Axie Infinity lost assets worth $625 million to hackers. - In October, a hacker stole $570 million from the popular Binance exchange. - Hackers allegedly stole $477 million worth of crypto from FTX, the embattled crypto exchange that’s since filed for bankruptcy, last fall. ## Advice from Money Trading [Bitcoin](https://money.com/what-is-bitcoin/) or other cryptocurrency is risky. Prices are volatile, the regulatory landscape is uncertain, and there are few protections available for investors. - If you do choose to invest in digital assets like bitcoin, experts often advise limiting that investment to an amount you’re prepared to lose. - It’s also important to do your homework and take cybersecurity seriously: Make sure you understand how to [store your crypto safely](https://money.com/is-crypto-safe/) (a hardware [crypto wallet](https://money.com/best-crypto-wallets/) is often the best choice), and remember that crypto deposits at exchanges are [not insured](https://money.com/crypto-not-protected-fdic/) by the federal government. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/crypto-scams-hackers-stole-billions-2022/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Investing", "item": "https://money.com/investing/" }, { "@type": "ListItem", "position": 3, "name": "Cryptocurrency", "item": "https://money.com/cryptocurrency/" }, { "@type": "ListItem", "position": 4, "name": "Crypto Hackers Stole Record-High $3.8 Billion Last Year: Report" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/crypto-scams-hackers-stole-billions-2022/#webpage", "url": "https://money.com/crypto-scams-hackers-stole-billions-2022/", "name": "Crypto Hackers Stole Record-High $3.8 Billion Last Year: Report", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2023-02-02T17:53:50.000Z", "mainEntity": { "@id": "https://money.com/crypto-scams-hackers-stole-billions-2022/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/crypto-scams-hackers-stole-billions-2022/#breadcrumb" }, "dateModified": "2024-01-10T17:49:07.000Z" }, { "@type": "NewsArticle", "headline": "Crypto Hackers Stole Record-High $3.8 Billion Last Year: Report", "articleSection": "Investing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2023/02/News-Crypto-Stolen.jpg", "width": 2880, "height": 1920, "caption": "News-Crypto-Stolen" } ], "author": [ { "@type": "Person", "name": "Sarah Hansen", "url": "https://money.com/author/sarah-hansen/", "@id": "https://money.com/author/sarah-hansen/#author", "description": "Sarah Hansen is a senior writer at Money covering all things personal finance. 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