In the third quarter, the crypto industry lost $ 428 million from hacks and scam

For the third quarter of 2022, the total losses of the Web3 ecosystem from hacks and fraud amounted to $ 428.7 million, experts of the Bounty Platform Immunefi calculated.

During the period, 39 incidents occurred, of which 30 were actually hacker attacks with total damage to $ 399 million. The remaining losses of $ 29.8 million Accelerate Financial were in nine cases of a scam, including Rug Pull schemes .

Most of the total amount amounted to two largest hacking: Nomad cross-protocol ($ 190 million) and Wintermute Market Maker ($ 160 million).

The key goals of hackers and scammers are Defi projects-they accounted for 98.8% of total losses against 1.2% of the CEFI sphere .

According to experts, this is due to the best level of protection of centralized platforms like Binance and Coinbase, which also allocate more resources for safety. Another factor in Immunefi called the multiplicity and variety of decentralized projects, which provides more vectors to attack.

In the context of blockchains, most protocols involved in the incidents are based on BNB Chain (16 attacks and 28.6% of the amount of damage) and Ethereum (13 and 23.2%, respectively).

According to the company, since the beginning of the years of the loss of crypto industry amounted to about $ 2.33 billion. By quarters, the amount was consistently reduced.

From the total volume, the attacked projects managed to return a small part – $ 93.8 million or 4%. Of the largest hacks, Axie Infinity ($ 30 million out of $ 325 million) and NOMAD ($ 36.4 million out of $ 190 million) received a noticeable compensation.

According to experts, in this direction it is difficult to count on significant progress. In some cases, as with Axie Infinity, the state stands behind the hackers, and they have in some way judicial immunity. In addition, attackers are becoming more sophisticated and successfully notice traces, Immunefi experts emphasized.

Recall that for the second quarter in Immunefi, 50 hacks and fraud were counted, in which crypto projects lost $ 670.7 million.

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