Kryptodata

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Immunefi reports a staggering 153% YoY surge in hacks and scams within the crypto industry during Q3

Immunefi reports a staggering 153% YoY surge in hacks and scams within the crypto industry during Q3

The increase in attack incidents in Q3 2023 compared to the same quarter last year is concerning. According to a report from Immunefi, there was a 153% increase in attack incidents for Crypto and Web3 projects from July to September 2023 compared to the same period in 2022. This resulted in a total of 76 attack incidents in Q3 2023, compared to just 30 in Q3 2022. The losses from these attacks amounted to nearly $686 million.

The Mixin hack on September 25 was the most damaging, resulting in approximately $200 million in losses. The Multichain hack was the second-worst attack, causing over $126 million in losses that have not yet been recovered. The Lazarus Group was responsible for draining over $208 million worth of crypto through multiple attacks, accounting for 30% of all stolen crypto in Q3.

Rug pulls and other scams made up a small portion of the attacks, with only $23 million or 3.3% of total losses coming from these incidents. The remaining 96.7% of losses came from hacks or exploits. However, it is worth noting that monetary losses from scams decreased by 23.9% compared to Q3 2022.

Decentralized finance (DeFi) hacks accounted for the majority of total losses at 72.9%, while centralized services accounted for only 27.1% of exploit losses. The most targeted networks by hackers and scammers were Ethereum and BNB Chain, representing 42.7% and 30.5% of losses respectively.

In summary:

– Q3 2023 saw a significant increase in attack incidents compared to Q3 2022.

– Crypto and Web3 projects experienced a 153% increase in attack incidents.

– The total number of attack incidents in Q3 2023 was 76, resulting in losses of nearly $686 million.

– The Mixin hack and the Multichain hack were the most damaging attacks.

– The Lazarus Group was responsible for 30% of all stolen crypto in Q3.

– Rug pulls and scams accounted for a small portion of losses, with a decrease compared to Q3 2022.

– DeFi hacks made up the majority of total losses, with Ethereum and BNB Chain being the most targeted networks.

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