Web3 projects will lose more than $2 billion in 2023 through hacking, rug pulling and phishing, according to data from blockchain security firm Beosin.
In its new annual report, the crypto security company said that 191 hacks this year resulted in an estimated $1,397 million in damages, 267 rug pulls caused $388 million in damages, and Phishing nets more than $238 million
Rug pulls generally refer to events where a developer promotes a project. cryptocurrency New to investors and affiliate token sales Then withdraw the funds raised during the token sale and disappear into the clouds without a trace.
Beosin It said 68% of the 191 hacks were aimed at DeFi projects, with those DeFi hacks resulting in $408 million worth of losses, or 29.2% of all attacks stolen this year. The company also noted that 51.8% of all stolen assets remained in hackers’ wallets.
“Hackers use sophisticated money laundering methods. Using cross-chain transfers and distributing funds across multiple wallets poses investigative challenges to project teams and regulatory agencies.”
However, overall losses from hacking, rug pulling and phishing are down nearly 54% this year compared to 2022, although Beosin states that offline crypto crimes will increase at least 54% this year compared to 2022. A lot in 2023
“Global crypto crime losses reach $65.68 billion in 2023, up approximately 377% from $13.76 billion in 2022. The top 3 crimes causing the largest losses are illegal gambling, laundering and fraud. Money and scams.”
Source: DailyHodl
2023-12-31 03:33:25
#Report #reveals #Web3 #projects #lose #billion #hacking #rug #pulling #phishing
