Web3 ecosystem lost over $428M to hacks, scams in Q3 – Immunefi

The web3 ecosystem lost over $428.7 million to 39 exploits in the third quarter — down 62.9% compared to over $1 billion lost in the same period of 2021. The Nomad Bridge and Wintermute hacks account for 79.85% — $350 million — of all recorded losses. Over 98% of the losses occurred on DeFi platforms, amounting to $423.4 million across 36 incidents. CeFi exchanges suffered a $5.2 million loss across 3 cases. Leading Bug bounty firm Immunefi detailed in its Crypto Losses report that about $398.9 million was lost to 30 incidents of hacks. In comparison, nine fraud cases claimed approximately $29.8 million, including $24.5 million lost to project rug pulls. On Aug. 2, cross-chain protocol Nomad Bridge suffered an exploit that drained 100% of its liquidity, worth approximately $190 million.https://cryptoslate.com/web3-ecosystem-lost-over-428m-in-q3-immunefi-report/

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