Crypto Industry Loses More Than $313M Due to Attacks in Q2 2023

The total losses of cryptocurrency projects due to hacks and fraud in April-June of 2023 amounted to $313.5 million, 58% lower than the same period in the previous year as stated by.

There was a recorded 212 security incidents in the second quarter of this year, with a $320 million loss resulting from the first.

An observed increase in exit scams took place with losses estimated to be around $70 million in comparison to the preceding $31 million.

The number of cases dealing with fraudulent behavior such as flash loans and manipulations of oracles decreased by almost 89%, amounting to $23 million.

One of the highest damage inflicted by hackers occurred in June with the Atomic Wallet hack resulting in losses of more than $100 million.

BNB Chain was affected the most with 119 incidents totaling $70.7 million being recorded. Ethereum took second place with a total of 55 incidents linked to a value of $66 million.