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Data from experts at PeckShield shows that the crypto sector saw at least 395 attacks between January and June 2023, costing an estimated $479.4 million in financial losses.
The losses in the crypto sphere have nearly quadrupled from the same time in 2022. To date, 79% ($378.3 million) of the total stolen funds were lost in the ten biggest thefts.
DeFi protocol ($197 million) and Atomic Wallet, a decentralized wallet, were the loss leaders with a significant gap. The worst month was really April, when $203.3 million was stolen by criminals.
DeFi Hacks: $414M Stolen, Ethereum and BNB Most Vulnerable
In the first half of 2023, 98% of cases involving DeFi protocols ($414 million) were successful. A loss of $287 million resulted from the majority of these assaults, which targeted Ethereum network projects. The primary causes of the attacks were privilege acquisition (14%), oracle manipulation (15%), and code defects (46%). Flash credits were utilized by 76% more hackers.
White-hat hackers helped the crypto sector recover $226.2 million of the total amount of money stolen.
Since 2012, hackers’ efforts have cost the crypto sector a total of more than $30 billion. At the same time, centralized exchanges were the victim of thefts totaling $10.95 billion, or more than 30% of this sum. Furthermore, during the course of 11 years, 118 attacks have been reported against crypto exchanges. Nearly $5 billion of the overall damages were caused by the two biggest exploits, which happened in 2021.
Hacks most commonly hit Ethereum and BNB Chain. Hackers made around $3.1 billion from 217 attacks on the Ethereum ecosystem. BNB Chain lost $1.45 billion as a result of 162 exploits.