{"id":85336,"date":"2023-10-04T14:30:30","date_gmt":"2023-10-04T11:30:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85336"},"modified":"2025-09-12T22:40:30","modified_gmt":"2025-09-12T19:40:30","slug":"report-crypto-industry-losses-from-hacks-and-scams-rise-60-year-on-year","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/report-crypto-industry-losses-from-hacks-and-scams-rise-60-year-on-year\/","title":{"rendered":"Report: Crypto industry losses from hacks and scams rise 60% year on year"},"content":{"rendered":"

In the third quarter losses of the Web3<\/a>-ecosystem from hacks and fraud reached $685.5 million \u2014 up 59.9% from the figure<\/a> for the same period year-on-year, according to Immunefi<\/a>.<\/p>\n

Year-on-year, the number of incidents rose by 153% \u2014 from 30 to 76.<\/p>\n

Of the total quarterly losses, $662.85 million stemmed from 49 hacking attacks, and $22.7 million from 27 scams.<\/p>\n

\\\"Report:
Data: Immunefi.<\/figcaption><\/figure>\n

Almost half of total losses were driven by two largest incidents: the Mixin Network exploits ($200 million) and Multichain ($126 million).<\/p>\n

According to the report, the Lazarus Group, a North Korean hacking outfit, was responsible for the theft of $208.6 million in the third quarter \u2014 30% of the total loss. Immunefi linked its activity to hacks on CoinEx<\/a>, Alphapo<\/a>, Stake<\/a> and Coinspaid<\/a>.<\/p>\n

\\\"Report:
Data: Immunefi.<\/figcaption><\/figure>\n

Bounty-platform specialists noted that the main target of attackers remained DeFi projects. Their share of losses for the quarter was 72.9% ($499.8 million) versus 27.1% for centralized services ($185.7 million).<\/p>\n

By network, the most incidents were recorded in the Ethereum (35) and BNB Chain (25) ecosystems. Since the public launch<\/a> in early August of the Base L2 protocol<\/a>, four Base-based projects have been subjected to exploits.<\/p>\n

Experts say victims recovered 8.9% of total losses in the third quarter. The restitution amounted to $61.2 million across six cases.<\/p>\n

\\\"Report:
Data: Immunefi.<\/figcaption><\/figure>\n

Beosin put the quarter’s industry losses from hacks and scams at $889.3 million<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

In the third quarter, losses of the Web3 ecosystem from hacks and fraud reached $685.5 million \u2014 up 59.9% from the figure for the same period year-on-year, according to Immunefi.<\/p>\n","protected":false},"author":1,"featured_media":85337,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,1644,1252],"class_list":["post-85336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-immunefi","tag-reports"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=85336"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85336\/revisions"}],"predecessor-version":[{"id":85338,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85336\/revisions\/85338"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/85337"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=85336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=85336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=85336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}