Almost $686 million was lost in hacks and scams in the third quarter, most of which resulted from exploits rather than fraud.
The number of attack incidents increased to 76 in Q3 2023, compared to just 30 in the same quarter last year.Crypto and Web3 projects suffered a 153% increase in attack incidents from July to September 2023 compared to the same period in 2022, according to a report from blockchain security platform Immunefi. In Q3 2022, there were a total of 30 attack incidents. But in Q3 2023, this numberof September 25, which drained approximately $200 million.
The report stated that decentralized finance hacks accounted for 72.9% of total losses, while centralized services accounted for only 27.1% of exploit losses. Immunefi did not state how they defined “decentralized” versus “centralized” services. The two networks most targeted by hackers and scammers were Ethereum and BNB Chain. Ethereum represented 42.7% of losses, while BNB Chain represented 30.5%. Base and Optimism were the third and fourth most popular networks for attackers to exploit.
The report provides further evidence that Q3 has been the worst quarter of the year for crypto-related hacks and scams. A report from Certik on October 2
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