$656M lost from crypto hacks, scams, and rug pulls in H12023: Report

Cointelegraph
Cointelegraph

30 Jun 2023 8:25 PM

The numbers represent a sharp decline over the $1.91 billion lost in H12022. ...

  • The total value of cryptocurrencies lost in scams, hacks, and rug pulls during Q1 2023 was $656 million.
  • $471.43 million was lost in 108 protocol attacks, $108 million in various phishing scams, and $75.87 million in 110 rug pulls.
  • The amount lost in hacks decreased compared to H1 2022 and H2 2022.
  • Only one project was hacked for more than $100 million, which was Euler Finance's $195 million flash loan hack.
  • The majority of crypto lost in H1 2023 were coins and tokens minted on the Ethereum blockchain.
  • Smart contract vulnerabilities accounted for 56% of the stolen crypto, while 21.4% had no clear identifiable reasons for their loss.
  • The total amount lost in H1 2023 decreased compared to H2 2021.

The sentiment of the article is negative, as it discusses the significant amount of cryptocurrencies lost in scams, hacks, and rug pulls.

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You May Ask

How much value of cryptocurrencies was lost in scams, hacks, and rug pulls during Q1 2023?What were the main reasons for the loss of stolen crypto?Which project experienced the largest hack during this period?How does the amount lost in H1 2023 compare to H2 2021?

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