December 7, 2024
6M lost from crypto hacks, scams, and rug pulls in H12023: Report

According to a report on June 30 Report In the first quarter of 2023, the total value of cryptocurrencies lost to scams, hacks, and scams amounted to $656 million, according to Web3 security firm Beosin. These included $471.43 million in losses from 108 protocol attacks, $108 million in losses from various phishing scams, and $75.87 million in 110 carpet pull cords. As far as hackers are concerned, this amount is significantly lower than in the first half of 2022 and the second half of 2022, causing losses of US$1.91 billion and US$1.69 billion, respectively. Additionally, Beosin analysts wrote:

“Approximately $215 million in stolen assets was recovered, or 45.5% of all stolen assets. In comparison, in 2022, only 8% were recovered. $113 million in stolen assets were diverted into mixers : $45.38 million transferred to Tornado Cash, $68.14 million transferred to Blender. Other Blender.”

in a Dashboard Data collated by Beosin and Footprint Analytics shows that only one project has been hacked for more than $100 million, Euler Finance’s $195 million flash loan hacked on March 13. The company began redemptions on April 12 after the hackers returned most of the stolen assets.

The vast majority of cryptocurrencies lost in the first half of 2023 were coins and tokens minted on the Ethereum (ETH) blockchain, accounting for 75.6%. Meanwhile, BNB tokens, the second most stolen asset class, accounted for just 2.6%.

Additionally, the majority of stolen cryptocurrencies were lost due to smart contract vulnerabilities (56%), while 21.4% of cryptocurrencies were lost without a clear identifiable reason. Still, the numbers are down sharply from the second half of 2021, when cryptocurrency losses hit a record $2.1 billion due to hacks, phishing scams and scams.

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