The crypto industry lost almost half a billion dollars due to hacks in 2023
Date: 2023-07-18 Author: Karina Ziganova Categories: BLOCKCHAIN, IN WORLD
From January to June 2023, the cryptocurrency industry faced at least 395 hacks, as a result of which they lost money of approximately $479.4 million, according to data from PeckShield analysts.
Compared to the same period in 2022, the losses of the cryptosphere decreased by almost five times. At the moment, losses from the ten largest hacks amounted to 79% ($ 378.3 million) of the total stolen amount.
By a wide margin, the DeFi protocol Euler Labs ($197 million) and the decentralized wallet Atomic Wallet ($65 million) were among the leaders in terms of losses. April turned out to be the most difficult month — attackers stole $203.3 million in a month.
In 98% of cases in the first half of 2023, DeFi protocols ($414 million) were under attack. Most of these attacks occurred on projects on the Ethereum network, as a result of which $287 million was lost. The main reasons for hacking were errors in the code (46%), manipulation of the oracle (15%) and seizure of privileges (14%). Another 76% of hackers used flash loans.
At the same time, thanks to white hackers, the crypto industry managed to return $226.2 million of the total amount of stolen money.
In total, since 2012, the crypto industry has lost more than $30 billion due to the actions of hackers. At the same time, more than 30% of this amount - $ 10.95 billion - was stolen from centralized exchanges. In addition, over 11 years, crypto exchanges accounted for 118 hacks. The two most significant exploits occurred in 2021, accounting for almost $5 billion of the total losses.
Most often, Ethereum and BNB Chain suffered from hacks. The Ethereum ecosystem faced 217 hacks, as a result of which hackers got about $3.1 billion. BNB Chain suffered losses of $1.45 billion in 162 exploits.
