In the second quarter of 2022, the total losses of crypto projects from hacking and fraud amounted to $670,698,280, experts of the bounty platform Immunefi reported.
Experts counted 50 incidents during the period, 49 of which related to DeFi protocols. The main share of losses — 96.62% — is related to hacking.
Four projects suffered most of the damage during the quarter:
Beanstalk — $181 million;
Harmony — $100 million;
Mirror Protocol — $90 million;
Rari Capital — $80 million.
Immunefi specialists noted that, compared to the same period last year, the losses of crypto projects from the actions of intruders increased by about one and a half times.
In the first quarter of 2022, hackers and scammers withdrew more than $1.22 billion from various protocols. The largest hacks were the Wormhole and Ronin incidents — for $319 million and $625 million, respectively.
In May, the Wormhole team paid $10 million via Immunefi to a white hacker who discovered a critical vulnerability in the protocol. This is the maximum reward within the bounty program of the project. Only MakerDAO offers the same.
Recall, according to Atlas VPN, since the beginning of the year, hackers targeting the crypto industry have stolen assets worth $1.97 billion as a result of hacking 175 projects.