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- In 2022, the NFT market value surged 122 times to $12.2 billion since 2020.
- From various bridges and protocols, over $3.4 billion was hacked last year.
- 53.6% of investors prefer hot wallets to store funds after the FTX crash.
While the crypto market experienced a harsh winter in 2022, with significant fluctuations, the number of NFT holders increased by 250%, from 1.5 million to 3.7 million. This resulted in the NFT market value skyrocketing 122 times to $12.2 billion since 2020.
As the market continues to grow, so do hackers and bad actors, with over $3.4 billion in total value hacked last year. In a recent study, 50.4% of investors worldwide reported experiencing crypto hacks and exploits only in 2022.
Contextually, the study revealed that investors with less than one year of experience believe that most hacks and exploits are the result of technical flaws and loopholes in the protocol, whereas investors with more than one year of experience believe that fake covers for projects to rug pull are the main causes of most hacks.
Several high-profile hacks and collapses rocked the industry and had far-reaching consequences for the global financial system. Of all the protocol hacks that 2022 expe ...
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