From July to September, the crypto industry lost about $889.3 million as a result of hacks, scams and rug pulls. This data was provided by Beosin experts.
The total losses from hacks, phishing scams, and rug pulls in Web3 reached $889.26 million in Q3 2023.
Losses in Q3 even exceeded the combined sum of the first two quarters ($330 million in Q1 and $333 million in Q2).
Read the full pdf version of Q3 2023 Global Web3 Security… https://t.co/aoPWOrRBeZ pic.twitter.com/5f3uYpG27e
— Beosin Alert (@BeosinAlert) September 27, 2023
The losses were distributed as follows:
- $540.16 million – 43 hacker attacks;
- $282.96 million – 81 cases of rug pull;
- $66.15 million – phishing scams;
In the third quarter, the crypto industry lost more than in the first half of the year as a whole ($655 million).
67.4% of attacks occurred on DeFi protocols (29 incidents). In value terms, the greatest damage was recorded in an attack on blockchains (Mixin Network, $200 million). After Mixin Network’s next largest losses were hacked by Curve ($73 million), CoinEx ($70 million), Alphapo ($60 million), Stake ($41.3 million).
In terms of blockchains, Ethereum became the “anti-leader” – as a result of 16 attacks, projects lost $227 million. In second place (not counting the incident with Mixin) is BNB Chain (10 cases with damage of $37.4 million).
Among rug pull, Multichain ($210 million), Bald ($23 million) and Pepe ($15.5 million) stood out.
According to analysts, only 10% of the assets stolen by hackers were recovered. For comparison, in the first half of the year the figure was 45.5%. 67% of the funds remained at hacker addresses, 18.4% went through mixers.
Previously, Chainalysis estimated that as of September 14, hackers from the DPRK stole $340.4 million. The attackers received a third of this amount as a result of just two attacks attributed to Lazarus.
Let us remind you that the group found $42.5 million worth of bitcoins in the wallets of the hackers.
Found an error in the text? Select it and press CTRL+ENTER
ForkLog newsletters: keep your finger on the pulse of the Bitcoin industry!