Ethereum suffered highest losses due to rug pulls and hacks, data shows

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As per SlowMist’s newest analysis report, Ethereum skilled the very best losses, amounting to $487 million, adopted by Polygon.

In accordance with the SlowMist report, a complete of 464 safety incidents resulted in losses totaling virtually $2.5 billion in 2023. The determine marks a 34.2% lower in losses in comparison with 2022, which noticed barely over 300 incidents that totalled $3.8 billion.

Analyzing the mission sorts, decentralized finance (DeFi) emerged as probably the most steadily focused sector, experiencing over 280 safety incidents in 2023, losses that constituted 60.7% of the full incidents.

Ethereum suffered highest losses due to rug pulls and hacks, data shows - 1
Distribution and losses of safety incidents in 2023 | Supply: SlowMist

The monetary toll from these incidents amounted to $773 million, representing a big 62.7% lower in losses year-over-year in comparison with 2022, which had 183 incidents with losses of round $2 billion, SlowMist reviews.

Whereas Ethereum incurred the very best losses as a result of crypto scams, rug pulls and hacks totaling $487 million, Polygon additionally misplaced hundreds of thousands of {dollars} as a result of scams and hacks, with losses reaching a complete of $123 million.

As per the report, exit scams have been probably the most prevalent reason for loss and accounted for 110 instances price roughly $83 million. These have been adopted by account compromise assaults.

As crypto.information earlier reported, the crypto market misplaced a complete of $2 billion in 2023, a quantity that whereas excessive declined for the primary time since 2020. In accordance with De.Fi’s REKT database, no less than 455 incidents have been documented in 2023, with the biggest hack amounting to $231 million, attributed to Multichain. Regardless of the $2 billion complete, efforts of cybersecurity consultants and white hat hackers led to the restoration of roughly $200 million from the general sum.

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