Losses in DeFi and crypto exceeded $3B in 2022

The past year presented many challenges for the crypto industry, without a doubt. In addition to the collapse of significant market players, such as FTX och Terra/Luna, or the rise of bluff -tokens, losses in crypto and DeFi in 2022 also represented significant numbers.

Losses for 2022 in numbers

Enligt en report by the Crypto bug bounty platform Inmunefi, the losses in DeFi and Crypto amounted to $3,948,856,037 in 2022. This group of white hat hackers identified a total of 168 cases. Thus, 134 hacks took $3.7B, while 34 scams or rug pulls took $174M.

Likewise, Immunefi determined that DeFi remained the preferred target for hackers, with 80.5% of attacks compared to 19.5% for CeFi. Also, BNB surpassed Ethereum (ETH) as the most attacked blockchain, with 65 important incidents. Ethereum has a total of 49 incidents. 

Similarly, the researchers determined that 96% of the losses were protocol exploits. For their part, only 4% consisted of rug pulls and bedrägerier. Additionally, in Q4 2022 alone, there were close to 55 incidents, which represented a loss of $1.6B.

Sadly, only 5% of the losses for DeFi and Crypto could be recovered in 2022. White hat hackers and law enforcement recovered barely $2M of stolen funds.

The top 10 DeFi and Crypto hacks in the past year accounted for 58.8% of the losses. The hardest hit were FTX, with $650M hacked; Ronin Network, which lost $625M; BNB Chain lost $570M; Wormhole lost $326M; Nomad Bridge lost $190M; Beanstalk lost $182M; Wintermute lost $160M; Harmony lost $100M; Mango Markets lost $100M, and Mirror Protocol lost $90M.

But it’s not all awful security news in the crypto industry. Although $3.9B in losses for DeFi and Crypto in 2022 is quite significant, it’s a 51% decrease from the $8B hackers stole in 2021.

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