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Skyrocketing cryptocurrency bug bounties expected to lure top hacking talent

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As high-stakes cryptocurrency and blockchain projects proliferate and soar in value, it’s no surprise that malicious actors were enticed to steal $14 billion in cryptocurrency during 2021 alone. The frantic pace of cryptocurrency thefts is continuing into 2022.

In January, thieves stole $30 million in currency from Crypto.com and $80 million in cryptocurrency from Qubit Finance. February started with the second-largest decentralize finance (DeFi) theft to date when a hacker exploited a token exchange bridge in Wormhole to steal $320 million worth of Ethereum.

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