Hackers have scrubbed the Web3 industry for $1.25 billion since the beginning of the year
Date: 2023-09-01 Author: Karina Ziganova Categories: BUSINESS, IN WORLD
In 2023, the Web3 industry lost over $1.25 billion in 211 incidents. This is stated in the Immunefi report.
According to the study, in August, attackers robbed Web3 projects worth $23.4 million. At the same time, the Base blockchain, launched only on August 9, has already become the victim of four attacks.
Most attacks were made on the Ethereum blockchain: five incidents were recorded on all network protocols. Four incidents occurred on the BNB network, as did Base with exploits in LeetSwap, SwirlLend, Magnate Finance and RocketSwap. Together, these three networks accounted for 62% of all network losses in August.
Optimism experienced two incidents, accounting for 9.5% of the total losses, while Arbitrum, Solana, Avalanche, Fantom, and Linea experienced one incident, accounting for a combined 28.7%.
DeFi is the main target of hackers
In August, 67.7% of incidents were related to hacker attacks, which led to a loss of $15.8 million. At the same time, fraud accounted for $7.6 million, or 32.3%.
Decentralized finance (DeFi) platforms were the main target of attackers, centralized platforms managed to avoid exploits during this period.
“In August 2023, DeFi will still be the main target of exploits compared to CeFi. DeFi represents 100% of the total losses, while CeFi has not recorded any major hack,” the report notes.
2023 overtakes 2022 in number of attacks
According to Immunefi analysts, there were 168 incidents related to hacks and hacker attacks last year. As a result, the Web3 industry lost $3.77 billion in 2022.
At the same time, four specific projects lost most of this amount: Ronin Network, BNB Chain, Wormhole and FTX. However, losses in 2022 were 51.2% less than in 2021, when hackers and scammers stole $8.08 billion.
