Report: damage from hacks and scams in the third quarter amounted to $889 million

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From July to September, the crypto industry lost about $889.3 million as a result of hacks, scams, and rug pull. Such data was provided by Beosin experts.

The total losses from hacks, phishing scams, and rug pulls in Web3 reached $889.26 million in Q3 2023.

Losses in Q3 even exceeded the combined sum of the first two quarters ($330 million in Q1 and $333 million in Q2).

Read the full pdf version of Q3 2023 Global Web3 Security… https://t.co/aoPWOrRBeZ pic.twitter.com/5f3uYpG27e
— Beosin Alert (@BeosinAlert) September 27, 2023

The losses were distributed as follows:

$540.16 million — 43 hacker attacks;
$282.96 million — 81 cases of rug pull;
$66.15 million-phishing scams;

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In the third quarter, the crypto industry lost more than in the first half of the year as a whole ($655 million).

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DeFi protocols accounted for 67.4% of attacks (29 incidents). In terms of value, the greatest damage was recorded in the attack on blockchains (Mixin Network, $200 million). After Mixin Network, the next largest losses were hacking Curve ($73 million), CoinEx ($70 million), Alphapo ($60 million), Stake ($41.3 million).

In the context of blockchains, Ethereum became the "anti-leader" — as a result of 16 attacks, projects lost $227 million. In second place (if you do not count the incident with Mixin) — BNB Chain (10 cases with damage of $37.4 million).

Among rug pull, Multichain ($210 million), Bald ($23 million) and Pepe ($15.5 million) were particularly prominent.

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According to analysts, only 10% of the assets stolen by hackers were recovered. For comparison, in the first half of the year, the indicator was 45.5%. 67% of funds remained at the addresses of hackers, 18.4% - passed through mixers.

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Earlier, Chainalysis estimated that as of September 14, hackers from North Korea stole $340.4 million. A third of this amount was obtained by attackers as a result of only two attacks attributed to Lazarus.

We will remind, on the wallets of hackers of the group found bitcoins for $42.5 million.
 
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