SINGAPORE, Singapore, Oct. 11, 2022 (GLOBE NEWSWIRE) — Immunefi, a leading bug bounty and security services platform for web3 protecting over $60 billion in user funds, publishes Crypto Losses Q3 2022 Report Did. The crypto industry has lost him $2,328,917,230 so far in 2022.
- In the third quarter of 2022 alone, the industry lost $428,718,083. Those numbers are down compared to his second quarter of 2022, when hackers and scammers stole $670,698,280 from him.
- Most of the money last quarter was lost to two specific projects, Nomad Bridge and Wintermute, totaling $350 million. Together, they accounted for 79.85% of losses in the third quarter alone.
- In Q3 2022, hacking continues to be the leading cause of losses, accounting for 93% of the total, compared to fraud, fraud and rug pulling.
- DeFi continues to be the primary target of exploits compared to CeFi, accounting for 98.8% of all losses.
- The two most targeted chains in Q3 2022 were the BNB chain and Ethereum. The BNB chain suffered the most individual attacks with 16 incidents, accounting for 28.6% of total losses across targeted chains, while Ethereum witnessed his 13 incidents, accounting for 23.2% each.
- A total of $93.8 million in stolen funds were recovered in 2022, only 4% of the total losses so far in 2022. Nomad recovered between $190 million and $36.4 million stolen, while Axie Infinity recovered between $625 million and $30 million.
“Web3 is a battlefield between black hat hackers and white hat hackers. . “Constantly learning about new security risks, improving security knowledge and practices, being audited, and launching bug bounty programs are essential if the project wants to survive and build trust with the community.”
Immunefi is web3’s largest and most widely adopted bug bounty platform. Immunefi has a large community of white hat hackers who are rewarded to review the project’s blockchain and smart contract code, find and responsibly disclose vulnerabilities, and make cryptocurrencies more secure. Proud. The platform currently supports 300 projects across multiple cryptocurrency sectors and offers a total bounty of $135 million to white hat hackers. Immunefi also facilitated the largest bug bounty payout in software history. This includes $10 million for vulnerabilities found in Wormhole, a popular cross-chain messaging protocol, $6 million for vulnerabilities found in Aurora, and bridging and scaling solutions. Ethereum.
A full report is available on the Immunefi website. The company has been tracking his cryptocurrency losses since early 2022. View previous reports here. Additionally, Immunefi published a Bored Ape Yacht Club Report highlighting stolen Bored Ape NFTs.
About Immunefi
Immunefi is the leading bug bounty and security services platform for web3 featuring the world’s largest bounty. Immunefi secures over $60 billion in user funds across projects such as Synthetix, Chainlink, SushiSwap, PancakeSwap, Bancor, MakerDAO, Compound, Alchemix, Nexus Mutual and more. The company paid out the most significant bug bounty in the software industry (over $60 million) and pioneered the scaling web3 bug bounty standard. For more information, please visit https://immunefi.com/.
