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.