In October, losses in the Web3 industry resulting from 44 exploits totalled about $760.2 million. The annual toll approached $3 billion, nearly double last year’s figure, PeckShield calculated.
#PeckShieldAlert ~44 exploits (53 protocols affected) grabbed ~$760.2M in Oct. 2022, and ~$100M already returned the exploited protocols (Total loss: $657.2M)
As of October 2022, the stolen funds (~$3B) in 2022 “doubled” last year’s loss pic.twitter.com/mKZAjVk7UU— PeckShieldAlert (@PeckShieldAlert) October 31, 2022
In total for the month, 53 protocols were affected. A significant portion of the losses is tied to the hack of the BSC Token Hub bridge on the BNB Chain — $586 million. However, hackers had only managed to withdraw about $100 million.
Projects recovered roughly the same amount as above. Therefore real losses stood at $657.2 million.
The Mango Markets DeFi platform hackers kept $48 million for themselves under an agreement with the protocol’s community from assets withdrawn totaling about $116 million. The hacker who robbed the cross-chain exchange Transit Swap about $21 million kept $5.52 million as a reward.
Losses of the DeFi project Team Finance after withdrawals of unknown assets worth $15.8 million amounted to only $2.4 million. The other funds were returned by the hacker.
In mid-October, Chainalysis specialists noted that the month became the most expensive in 2022 in terms of the value of cryptocurrency stolen by criminals. At that time, the damage from 11 attacks on DeFi protocols reached $718 million.
In the third quarter, the ecosystem’s total losses from hacks and fraud amounted to $428.7 million, according to Immunefi, the bounty platform.
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