According to a June 30 report by security firm Web3 Beosin, the total value of cryptocurrencies lost in Fraud, Hacking, and Carpet Pulling reached $656 million during the first half of 2023. This includes a loss of $471.43 million in 108 protocol attacks, $108 million in various phishing scams, and $75.87 million in 110 carpet pulls. For hacks, this amount represented a significant decrease from H1 2022 and H2 2022, where $1.91 billion and $1.69 billion were lost, respectively. In addition, Beosin analysts wrote:

“Approximately $215 million in stolen property was recovered, representing 45.5% of all stolen property. In contrast, only 8% was recovered in 2022. $113 million of stolen assets were transferred to mixers: $45.38 million to Tornado Cash and $68.14 million to other mixers.”

In the dashboard assembled only one project worth more than $100 million has been hacked by Beosin and Footprint Analytics, the March 13 hack of Euler Finance’s $195 million flash loan. they opened redemptions on April 12 after the hackers returned most of the stolen property.

The vast majority of crypto lost in H1 2023 were coins and tokens minted on the Ethereum blockchain, at 75.6%. Meanwhile, the second largest stolen asset class, Binance Smart Chain tokens, reached just 2.6%.

In addition, the majority of stolen cryptocurrencies were lost due to smart contract vulnerabilities (56%), while 21.4% had no clear identifiable reasons for the loss. However, the numbers represent a significant drop from H2 2021, when a record $2.1 billion in cryptocurrencies was lost due to hacks, phishing scams and rug pulls.

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