A study conducted by Immunefi reveals that crypto users lost $3.9 billion in 2022, mainly due to hacker attacks in DeFi.
According to a recently released report by Immunefi, a bug bounty platform and security services for the Web3 ecosystem, the cryptocurrency industry reportedly lost a total of $3.9 billion last year. The main cause of the losses were hacker attacks: these accounted for 95.6% of the total. Frauds, scams and rug pulls made up the remaining 4.4%.
Immunefi also found that decentralized finance (DeFi) was the most targeted sector: it suffered 80.5% of losses, compared to centralized finance (CeFi) which accounted for 19.5% of losses:
BNB and Ethereum were the most targeted blockchains. Mitchell Amador, CEO of Immunefi, commented:
“By proactively identifying and addressing vulnerabilities, we can protect the community and build trust in the industry. By making this industry safer, we will allow worthy projects to thrive.”