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In 2023, users lost $656 million in cryptocurrencies due to fraud and hacking.

The total value of cryptocurrencies lost to fraud, hacking and theft in the first half of 2023, according to a report by cybersecurity firm Beosin on June 30. a total of approximately $656 million. This figure includes $471.43 million in losses in 108 protocol attacks, $108 million in various phishing scams, and $75.87 million in 110 thefts.

As for hacking attacks, the amount stolen is less than both the first and second half of 2022, with $1.91 billion and $1.69 billion lost respectively. Additionally, Beosin analysts write:

“In 2023, approximately $215 million of stolen assets were recovered, which equates to 45.5% of the total. However, only 8% was recovered in 2022. $113 million of stolen assets was transferred to mixers: $45.38 million to Tornado Cash and $68.14 million to other mixers.”

in a document Compiled by Beosin and Footprint Analytics, only one project was hacked that resulted in over $100 million stolen: a flash loan of 195 million against Euler Finance on March 13. After the hackers returned most of the stolen assets, the company initiated the refunds on April 12.

The vast majority (75.6%) of cryptocurrencies lost in the first half of 2023 were tokens minted on the Ethereum blockchain. We find Binance Smart Chain tokens in second place with 2.6%. Most of the thefts occurred due to vulnerabilities in smart contracts. (56%).

However, this is all much lower than the numbers in the second half of 2021, when a record $2.1 billion in cryptocurrencies was stolen due to hacking, fraud and rug pulling:

“Web Security Stats 3, first half of 2023.

Total losses from Web3 attacks, phishing scams and rug pulls in the first half of 2023 reached $655.61 million.

Among them:
108 attacks = $471.43 million;
Phishing scam = $108 million;
110 rug pulls = $75.87 million.”

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