Web3 Lost Nearly $4 Billion To Fraudsters Last Year
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Last year, the crypto industry lost around $4 billion worth of digital assets due to hacks, scams, scams, and shenanigans, representing a decline of more than 50% from over $8 billion stolen in 2021.
According to a recent report by Immunefi, a bug-finding platform and security services for the Web3 ecosystem, the crypto space lost $3.9 billion in 2022, with only five major exploits totaling $2,361,000,000 accounting for 59.8% of all losses for the year .
Among the various forms of illegal activity in 2022, hacks account for the bulk of cryptocurrency losses. Specifically, the hackers stole over $3.7 billion, or over 95% of all cryptocurrencies lost in a year. Fraud, scams and fraud accounted for only 4.4% of total losses.
In 2022, DeFi was still the main target of successful exploits at 80.5% compared to CeFi at 19.5% of total losses. Total DeFi losses in 2022 were $3,180,023,103 from 155 incidents. This number represents an increase of 56.2%. compared to 2021, when DeFi lost $2,036,015,896 in 107 incidents.
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