In response to a June 30 report by Web3 safety agency Beosin, the entire worth of cryptocurrencies misplaced in scams, hacks, and rug pulls amounted to $656 million in the course of the first quarter of 2023. This consists of the lack of $471.43 million in 108 protocol assaults, $108 million in varied phishing scams, and $75.87 million over 110 rug pulls. For hacks, the quantity represented a major lower over H1 2022 and H2 2022, the place $1.91 billion and $1.69 billion had been misplaced, respectively. As well as, Beosin analysts wrote:
“Roughly $215 million of stolen property had been recovered, accounting for 45.5% of all stolen property. In distinction, in 2022, solely 8% had been recovered. $113 million of stolen property had been transferred to mixers: $45.38M into Twister Money and $68.14M into different mixers.”
In a dashboard compiled by Beosin and Footprint Analytics, just one mission was hacked for greater than $100 million, that being Euler Finance’s $195 million flash mortgage hack on March 13. The agency opened redemptions on April 12 after hackers returned a lot of the stolen property.
The overwhelming majority of crypto misplaced in H1 2023 had been cash and tokens minted on the Ethereum (ETH) blockchain, at 75.6%. In the meantime, the second largest stolen asset class, BNB tokens, got here at simply 2.6%.
Moreover, a lot of the stolen crypto was misplaced as a result of sensible contract vulnerabilities (56%), whereas 21.4% had no clear identifiable causes for his or her loss. Nonetheless, the numbers characterize a major lower over H2 2021, the place a report $2.1 billion in crypto was misplaced as a result of hacks, phishing scams, and rug pulls.
H1 2023 Web3 Safety Statistics
Whole losses from hacks, phishing scams, and rug pulls in Web3 reached $655.61 million within the first half of 2023.
Amongst them,
108 assaults -> $471.43M
Phishing scams -> $108M
110 rug pulls -> $75.87M pic.twitter.com/8Q9kmDETfQ— Beosin Alert (@BeosinAlert) June 30, 2023
Journal: Ought to crypto initiatives ever negotiate with hackers? Most likely
