$656,000,000 in Crypto Lost in Hacks, Scams and Rug Pulls In First Half of 2023: Blockchain Security Firm
A new report from blockchain security firm Beosin reveals that the crypto market recorded losses of over half a trillion dollars in the first half of the year from hacks and other illicit schemes.
Newly released security data from the company shows that the web3 space sustained $655.61 million worth of losses from hacks, phishing scams and rug pulls in the first six months of 2023.
Beosin says 108 hacking attacks account for $471.43 million in lost funds. Losses from 110 rug pulls and phishing scams amount to $75.87 million and $108 million, respectively.
According to Beosin, losses from hacking incidents between January and June this year are significantly lower than those incurred during the first and second half of 2022.
“In H1 2022, the total loss from attacks was ~$1.91 billion, and in H2 2022, it was about $1.69 billion, while in H1 2023, this value dropped to $470 million.”
Most of the hacking incidents involved losses between $1 million and $10 million, but in one case, the amount involved is over $100 million.
“Distribution of loss amount in hacks:
Loss exceeding $100 million: 1 incident
$10 million to $100 million: 7 incidents
$1 million to $10 million: 23 incidents.”
Beosin says about $215 million, or 45.5% of the stolen assets, have already been recovered.
“In contrast, in 2022, only 8% were recovered.
$113 million of stolen assets were transferred to mixers: $45.38 million into Tornado Cash and $68.14 million into other mixers.”
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The post $656,000,000 in Crypto Lost in Hacks, Scams and Rug Pulls In First Half of 2023: Blockchain Security Firm appeared first on The Daily Hodl.
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Author: Rhodilee Jean Dolor
