The crypto industry lost $3.6 billion from hacks last year

In 2022, the damage to the Web3 industry from 167 major attacks amounted to about $3.6 billion, which is 47.4% more than a year earlier, Beosin experts said.

More than half of the total losses came from 12 incidents with cross-chain bridges — $1.89 billion. At the same time, DeFi protocols were attacked 113 times (67.6% of the total number of hacks).

The largest attacks in the crypto industry in terms of losses in 2022. Data: Beosin.

During the year, serious security incidents occurred on 20 public blockchains. The top three in terms of losses were Ethereum, BNB Chain and Solana. They also excel in the number of attacks, only here the network from Binance is in the lead.

Exploitation of vulnerabilities ranked first in both frequency and damage, with $1.458 billion lost as a result of 87 exploits.

The experts noted that protocols that passed and did not pass the audit were subjected to attacks almost equally — 51.5% and 48.5% of hacks, respectively.

Of the stolen funds, approximately $1.396 billion, or 38.7%, was transferred by the attackers to the Tornado Cash mixing service.

The projects managed to return only 8% of the funds stolen in 2022 – about $289 million.

Losses of crypto projects from attacks by quarters. Data: Beosin

Over the past year, analysts estimated the global volume of criminal funds in the crypto industry at $13.76 billion. Attacks and exploits were in second place – money laundering schemes amounted to $7.33 billion. Financial pyramids accounted for $1 billion in damage, and fraud — $830 million.

Damage to the crypto industry in 2022 by type of crime. Data: Beosin.

During the year, experts counted 243 cases of implementation of a fraudulent rug-pull scheme in the amount of $425 million. In approximately 86.4% of incidents, the damage did not exceed $1 million.

Source: CryptoNewsHerald.com