Report: crypto industry losses from hacks and scams total $655 million in six months

In the first half of 2023, the crypto industry lost about $655.6 million due to hacks, frauds, and rug pull. Beosin experts provided these figures.

Losses were distributed as follows:

• $471.43 million — 108 hacking attacks;
• $108 million — phishing scams;
• $75.87 million — 110 rug pulls.

Analysts say that about $215 million of the assets stolen by hackers were recovered. The figure was well above last year’s — 45.5% vs. 8%.

In 2022, Beosin estimated the damage to the crypto industry from 167 major attacks at $3.6 billion. More than half of the total losses came from 12 incidents with cross-chain bridges — $1.89 billion.