Blockchain security company Certik has compiled a report
showing the amount of cryptocurrencies lost in hacks and exploits in the second
quarter of the year. According to the report, hackers stole more than $300
million through different kinds of scams and malicious exploits during the period.
The amount lost did not
change much compared to the $320 million lost in the first quarter of the year.
However, the amount in the second quarter is much lower compared to that
which was recorded in the same period of 2022, which was at $745 million.
The total number of
security incidents in the second quarter was 212 and the amount lost to exit
scams was $70 million. It is almost double the figures recorded in the last quarter
at $31 million, according to the report released today (Wednesday).
An exit scam in the
cryptocurrency sector is a situation where an individual or an entity creates a
cryptocurrency project, promotes it until it achieves a certain monetary
value, then the founders of the project disappear, leaving investors with worthless tokens. Such type of a crypt
scam is also referred
to as a rug pull.
Across the blockchain
space, BNB Chain reported the most number of security incidents totaling more than 100 with the losses amounting to $71 million. Ethereum had 55
incidents that cost investors $66 million in losses, while Polygon recorded
four cases and losses worth about $2.4 million.
COMING THIS WEEK, The #HACK3D Report: Q2 2023!
In the report;
⦿ $313 million drained from #web3 by malicious actors.
⦿ SEC files charges against #Binance & #Coinbase.
⦿ Recap of the 98 exit scams & 54 flashloan/oracle manipulation exploits & losses.
+ much more! #CertiKpic.twitter.com/MhLDbSUlJ1
— CertiK (@CertiK) July 3, 2023
NFT Scams
In a separate
report by security firm PeckShield, the number of non-fungible tokens stolen in
June dropped by 23% to about $2 million. According to the report, half of the
stolen digital assets were sold in the NFT marketplaces in less than three
hours. The highest amount of the stolen NFTs were sold on Blur, at 86%, while
those disposed of on OpenSea were 13%.
#PeckShieldAlert In June 2023, ~$2.27M worth of #NFTs were stolen, marking a 23% decrease compared to the previous month. Within a span of 160 minutes, half of the stolen NFTs were promptly sold on various marketplaces. The percentage of stolen NFTs initially sold on @blur_io… pic.twitter.com/0bhYs3CzTL
— PeckShieldAlert (@PeckShieldAlert) July 3, 2023
Meanwhile,
in a separate report by the UK’s Financial Ombudsman Service (FOS) released
last month, the number of financial scams, especially those
related to cryptocurrencies,
was on the rise. The FOS said that there was a surge in what it termed as
‘hybrid scams’ involving more than one type of scam, Finance Magnates reported.
Blockchain security company Certik has compiled a report
showing the amount of cryptocurrencies lost in hacks and exploits in the second
quarter of the year. According to the report, hackers stole more than $300
million through different kinds of scams and malicious exploits during the period.
The amount lost did not
change much compared to the $320 million lost in the first quarter of the year.
However, the amount in the second quarter is much lower compared to that
which was recorded in the same period of 2022, which was at $745 million.
The total number of
security incidents in the second quarter was 212 and the amount lost to exit
scams was $70 million. It is almost double the figures recorded in the last quarter
at $31 million, according to the report released today (Wednesday).
An exit scam in the
cryptocurrency sector is a situation where an individual or an entity creates a
cryptocurrency project, promotes it until it achieves a certain monetary
value, then the founders of the project disappear, leaving investors with worthless tokens. Such type of a crypt
scam is also referred
to as a rug pull.
Across the blockchain
space, BNB Chain reported the most number of security incidents totaling more than 100 with the losses amounting to $71 million. Ethereum had 55
incidents that cost investors $66 million in losses, while Polygon recorded
four cases and losses worth about $2.4 million.
COMING THIS WEEK, The #HACK3D Report: Q2 2023!
In the report;
⦿ $313 million drained from #web3 by malicious actors.
⦿ SEC files charges against #Binance & #Coinbase.
⦿ Recap of the 98 exit scams & 54 flashloan/oracle manipulation exploits & losses.
+ much more! #CertiKpic.twitter.com/MhLDbSUlJ1
— CertiK (@CertiK) July 3, 2023
NFT Scams
In a separate
report by security firm PeckShield, the number of non-fungible tokens stolen in
June dropped by 23% to about $2 million. According to the report, half of the
stolen digital assets were sold in the NFT marketplaces in less than three
hours. The highest amount of the stolen NFTs were sold on Blur, at 86%, while
those disposed of on OpenSea were 13%.
#PeckShieldAlert In June 2023, ~$2.27M worth of #NFTs were stolen, marking a 23% decrease compared to the previous month. Within a span of 160 minutes, half of the stolen NFTs were promptly sold on various marketplaces. The percentage of stolen NFTs initially sold on @blur_io… pic.twitter.com/0bhYs3CzTL
— PeckShieldAlert (@PeckShieldAlert) July 3, 2023
Meanwhile,
in a separate report by the UK’s Financial Ombudsman Service (FOS) released
last month, the number of financial scams, especially those
related to cryptocurrencies,
was on the rise. The FOS said that there was a surge in what it termed as
‘hybrid scams’ involving more than one type of scam, Finance Magnates reported.