Web3 Projects Lost Over $2B to Hackers This Year: Report

Web3 blockchain projects have lost more than $2 billion to hacks and exploits in the first six months this year, more than all of 2021 combined. Over $2B Lost in Crypto Hacks This Year According to Blockchain auditing and security company CertiK, this year’s hacking figure is more than all of 2021 combined. About $308 million were lost across 27 flash loan attacks in the second quarter, from $14 million in Q1. “A new report from CertiK flags major losses and a growing threat from flash loan attacks” writes @corintxt Check out CertiK’s data on the latest trends and exploits in @verge’s new post 👇👇 https://t.co/7R7ky7ZTdW — CertiK (@CertiK) July 7, 2022 Phishing attacks also increased in frequency between Q1 and Q2 of this year, with CertiK recording 290 in the most recent quarter compared with 106 in the first three months of the year. In slightly more positive news, so-called “rug pulls” are becoming less common, with $37.46 million lost to “rug pulls” in Q2, down 16.5 percent from the previous quarter. In a recent separate report from the Federal Trade Commission (FTC), it was found that nearly 46,000 Americans reported losing over $1 billion in crypto to scams since early 2021. Another report from Immunefi, a leading bug bounty platform, claimed this week that the global crypto market lost at least $670 million in the second quarter where 97 percent of the losses were due to hacks and scams, up 52 percent from $440 million...