Published by cybersecurity and data privacy firm Privacy Affairs, the report revealed that the five biggest crypto losses, scams and hacks of 2022, ranked by the amount of money lost or stolen ($100 million and above), accounted for nearly $3.5 billion.

Hackers stole $1.9 billion in cryptocurrency between January and July, 2022-which is a 37% increase in the same period last year. Accordingly, the report noted that 97% of all stolen cryptocurrency came from DeFi protocols in Q1 2022. 

27 flash loan attacks resulted in a loss of over $308 million in Q2 2022, marking a 66.7% increase in losses resulting from the vice from Q1 2022.