Web3 projects have lost $1.25 billion since the beginning of the year due to hackers

From January to August, the losses of Web3 platforms from the actions of hackers and fraudsters amounted to $1.25 billion. Such calculations were made by Immunefi analysts.

Over the past month, the indicator has increased by $23.4 million.

The number of incidents has risen to 211.

Four cases are related to Base’s Coinbase L2 solution launched on August 9 — LeetSwap, SwirlLend, Magnate Finance, and RocketSwap.

According to this indicator, the network has become the same target as Ethereum and BNB Chain. In the first, hackers made five successful attacks, in the second – four. In total, the three blockchains accounted for 62% of all hacks.

Optimism faced two incidents (9.5%); Arbitrum, Solana, Avalanche, Phantom and Linea – one each (the remaining 28.7%).

Hacker attacks accounted for two-thirds of the damage to Web3 projects ($15.8 million). The latter lost another $7.6 million as a result of fraud.

Unlike DeFi, no exploits have been reported among centralized platforms.

Immunefi paid out more than $80 million in bounty programs in August. The platform saved $25 billion of user assets in protocols like Chainlink, The Graph, Synthetix and MakerDAO, according to its representatives.

Recall that in the second quarter the number of attacks on crypto projects increased by 63%.

Beosin experts estimated the loss of the industry from hacks and fraud for the first half of the year at $655.6 million.

Over the same period, the influx of digital assets into illegal services decreased by 65%, according to Chainalysis.

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