Immunefi Crypto Losses Report October 2023
Analysis
- In total, we have seen a loss of $1,410,669,002 to hacks and rug pulls in 2023 from January to October across 292 specific incidents.
- In October 2023 alone $22,193,496 were lost due to hacks and fraud.
- The most targeted chains in October 2023 were BNB Chain and Ethereum, representing more than half of the total losses across targeted chains at 83.3%.
- Hacks continue to be the predominant cause of losses as compared to frauds. In October 2023, a total of $16,351,538 was lost due to hacks.
- In October 2023, DeFi was the main target for exploits, while CeFi hasn't witnessed a single major exploit.
Hacks vs. Fraud Analysis
In October 2023, hacks continue to be the predominant cause of losses as compared to frauds, scams, and rug pulls. An analysis of the losses shows that fraud accounts for 26.32% of the total losses in October 2023, while hacks account for 73.68%.
Overview
- Hacks: In total, we have seen a loss of $16,351,538 to hacks in October 2023 across 13 specific incidents.
- Fraud: In total, we have seen a loss of $5,841,958 to fraud in October 2023 across 13 specific incidents.
DeFi vs. CeFi Analysis
In October 2023, DeFi continues to be the main target for exploits, compared to CeFi. DeFi represents 100% of the total losses, while CeFi hasn't witnessed a single major exploit.
Overview
- DeFi: DeFi has suffered $22,193,496 in total losses in October 2023 across 26 incidents.
- CeFi: CeFi hasn't witnessed a single major exploit during October 2023.
Losses by Chain
The most targeted chains in October 2023 were BNB Chain and Ethereum. BNB Chain suffered the most individual attacks with 11 incidents, representing 45.8% of the total losses across targeted chains. Ethereum witnessed 9 incidents, representing 37.5% respectively.
Overview
- BNB Chain and Ethereum represent more than half of the chain losses in October 2023 at 83.3%, followed by Avalanche with 2 incidents, representing 8.3%. Polygon and Fantom witnessed 1 incident each, representing 4.2% respectively.
In Focus: Crypto Losses YTD
Monthly Overview
In total, the ecosystem has witnessed $1,410,669,002 in losses year-to-date (YTD) across 292 specific incidents. Overall, Q3 in 2023 recorded the highest losses, primarily driven by over $340 million in September and more than $320 million in July.
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About Immunefi
Immunefi is the leading security platform for crypto, protecting more than $180 billion in user funds, and securing protocols across the full development lifecycle, from pre-deployment through production.
