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.”
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Brazhyk
