- This is 7 times more than in the same period last year.
- In general, losses amounted to $208.5 million
- However, $4.5 million was returned
- Atomic Wallet suffered the most losses
The second quarter of 2023 turned out to be not entirely favorable for the DeFi sector. As a result of hacks and fraud in the field of decentralized finance, there were lost about $204 million
More than $208.5 million was initially lost, but through prosecution and deals with hackers, approximately $4.5 million was recovered, bringing the total amount of unrecovered funds to over $204 million.
In a report called “Q2 De.Fi Rekt Report” writes that in the second quarter, there were almost 7 times more cases of hacks compared to 2022. During this period, there were 117 incidents, compared to 17 last year.
The five most notable hacks were against Atomic Wallet, Fintoch, MEV-Boost, Bitrue, and GDAC. The Atomic Wallet exploit that occurred on June 3 resulted in a loss of $35 million, which is approximately 17% of the total. Fintoch users suffered a loss of $30.6 million due to potential theft, and the MEV-Boost attack resulted in a loss of $26.1 million. In total, these three attacks accounted for more than 45% of total losses in the second quarter.
One of the most common causes of loss was access control issues, where an attacker gained unauthorized access to a wallet. These issues resulted in a loss of $75.8 million, a quarter of the total loss.
The second most common cause was exploits, which resulted in a total loss of $55.3 million. Losses of $47.3 million related to withdrawals were also recorded.