Pete Recommends – Weekly highlights on cyber security issues, May 8, 2022

Subject: Crypto Hackers Stole More Than $370 Million In April Alone
Source: Motherboard Tech by Vice

The total amount of crypto stolen since the beginning of the year is more than $1.6 billion. In April alone, hackers stole more than $370 million in crypto from several web3 projects, according to a cybersecurity firm, with nearly $100 million being stolen over the weekend.In the last month, there were 31 hacks affecting crypto or web3 projects, including Beanstalk, Fei Protocol, Deus Finance, and Bored Ape Yacht Club, according to a tally by CertiK, a company that specializes in cybersecurity in the crypto space. These hacks were of different kinds, from exploiting protocols to phishing users directly.Just over the last weekend, decentralized finance (DeFi) platforms Saddle Finance and FEI Protocol (which merged with Rari Capital last year) were hacked and lost $10 million and $80 million, respectively. Saddle’s hack could have been worse, as cybersecurity company BlockSec took advantage of the same vulnerability the hackers used to secure almost $4 million in crypto, according to Saddle….

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