Rug Pulls

Beosin: In Q3 2024, the total losses in the Web3 sector due to hacker attacks, phishing scams, and project rug pulls reached 730 million dollars

ChainCatcher news, according to Beosin Alert monitoring and early warning, as of September 25, the total loss in the Web3 sector due to hacker attacks, phishing scams, and project Rug Pulls in Q3 2024 has reached $730 million. Among them, there were 23 major attack incidents, with a total loss of approximately $430 million; 3 project Rug Pull incidents, with a total loss of about $4.24 million; and total losses from phishing scams amounting to approximately $295 million.In terms of the types of attacked projects, the highest losses were incurred by CEX, with 3 attacks on CEX causing approximately $297 million in losses, accounting for about 40.6% of all attack losses.In terms of losses by chain, Ethereum remains the chain with the highest loss amount and the most attack incidents. 21 attacks and phishing incidents on Ethereum caused losses of $348 million, accounting for about 47.6% of the total losses.Regarding attack methods, there were 5 private key leakage incidents in Q3, resulting in losses of $305 million, accounting for about 41.7% of the total attack losses, making it the most prevalent type of attack.In terms of the flow of funds, only about $16.9 million of the stolen funds have been frozen or recovered. The vast majority (approximately 78.9%) of the stolen funds are still stored in the attackers' on-chain addresses.Compared to the same period in 2023, the total losses due to hacker attacks, phishing scams, and project Rug Pulls in Q3 2024 have slightly decreased to $730 million (the figure for Q3 2023 was $889 million). Factors such as the decline in cryptocurrency prices in Q3 2024 have had some impact on the reduction of the total amount, but overall, the situation in the Web3 security sector remains grim. Among the more than twenty attack incidents in Q3, 18 were still due to contract vulnerabilities, suggesting that project parties should seek professional security companies for audits before going live.

Beosin: In Q1 2024, the total losses in the Web3 sector due to hacking attacks, phishing scams, and rug pulls exceeded $778 million

ChainCatcher news, according to Beosin Alert monitoring and early warning, the total loss in the Web3 sector due to hacker attacks, phishing scams, and project Rug Pulls reached 778 million USD in the first quarter of 2024. Among them, there were 39 major attack incidents with a total loss of approximately 617 million USD; 43 project Rug Pull incidents with a total loss of about 75.5 million USD; and phishing scams with a total loss of approximately 86.24 million USD.The total loss in the first quarter of 2024 was about 778 million USD, a year-on-year increase of approximately 126% and a quarter-on-quarter increase of about 72%. The losses from hacker attacks were higher than any quarter in 2023. The total loss in February reached 422 million USD, making it the month with the highest loss in the first quarter of 2024.In terms of the types of attacked projects, gaming platforms have become the project type with the highest loss amount for the first time. Six attacks on Web3 gaming platforms caused a total loss of 365 million USD, accounting for 59% of all attack losses. In terms of loss amounts across chains, Ethereum remains the chain with the highest loss amount and the most attack incidents. Eighteen attack incidents on Ethereum resulted in a loss of 342 million USD, accounting for 55.4% of the total loss.In terms of attack methods, there were 13 private key leakage incidents this quarter, resulting in losses of 458 million USD, which accounted for 74.3% of the total attack losses, making it the highest proportion attack type. According to Beosin KYT anti-money laundering analysis platform monitoring, in terms of fund flow, most of the stolen assets this quarter were frozen and recovered. Approximately 303 million USD (49.2%) of the stolen funds were frozen, and 79.45 million USD (12.9%) of the stolen funds were recovered. In terms of audit status, the proportion of audited project parties among the attacked projects has increased.
2024-04-01

Beosin: The total loss amount in the Web3 ecosystem in February due to hacker attacks, phishing scams, and rug pulls reached 422 million USD

ChainCatcher news, according to monitoring by the blockchain security audit company Beosin's KYT anti-money laundering analysis platform, the loss amount from various security incidents significantly increased in February 2024 compared to January. In February 2024, there were more than 19 typical security incidents, with total losses due to hacker attacks, phishing scams, and Rug Pulls reaching $422 million, an increase of about 102% compared to January. Among these, attack incidents accounted for approximately $347 million, an increase of about 110%; phishing scam incidents were about $16.08 million, a decrease of about 52%; and Rug Pull incidents were approximately $59.38 million, an increase of about 440%.The largest attack incident in February was the attack on the crypto gaming platform PlayDapp due to private key leakage, resulting in a loss of $290 million, making it the highest loss security incident of the year so far. Other incidents with losses exceeding ten million dollars include: the centralized exchange FixedFloat being attacked, resulting in a loss of $26.1 million; Axie Infinity co-founder Jihoz.ron’s personal address losing about $10 million due to private key leakage. Additionally, the Hong Kong exchange Bitforex is suspected of experiencing a Rug Pull, with $56.5 million anomalously flowing out of its hot wallet.

Beosin: In 2023, the total losses in the Web3 sector due to hacker attacks, phishing scams, and project rug pulls reached 2.02 billion dollars

ChainCatcher news reports that, according to monitoring by the blockchain security auditing company Beosin's EagleEye platform, as of December 25, 2023, the total losses in the Web3 sector due to hacker attacks, phishing scams, and project Rug Pulls reached $2.02 billion. Among them, there were 191 attack incidents with total losses of approximately $1.397 billion; 267 project Rug Pull incidents with total losses of about $388 million; and phishing scams with total losses of approximately $238 million.In 2023, hacker attacks, phishing scams, and project Rug Pull incidents saw a significant decline compared to 2022, with a total amount decrease of 53.9%. Among them, hacker attacks had the largest decline, dropping from $3.6 billion in 2022 to $1.397 billion in 2023, a decrease of about 61.2%. Phishing scam losses decreased by 33.2% compared to 2022, and Rug Pull losses decreased by 8.8%.In 2023, there were 4 attack incidents with losses exceeding $100 million, and 17 attack incidents with losses ranging from $10 million to $100 million. The top 10 security incidents had a total loss amount of approximately $1 billion, accounting for 71.5% of the total loss amount from annual attack incidents.The types of projects attacked in 2023 were more diverse compared to 2022, including DeFi, CEX, DEX, public chains, cross-chain bridges, wallets, payment platforms, gambling platforms, crypto brokers, infrastructure, password managers, development tools, MEV bots, TG bots, and more. DeFi was the project type with the highest frequency of attacks and loss amounts, with 130 DeFi attacks causing a total loss of approximately $408 million.In 2023, the types of public chains attacked were more frequent, with multiple security incidents involving theft across multiple chains. Ethereum remained the public chain with the highest loss amount, with 71 attack incidents on Ethereum causing losses of $766 million, accounting for 54.9% of the total losses for the year.In terms of attack methods, 30 private key leakage incidents caused approximately $627 million in losses, accounting for 44.9% of the total losses, making it the most damaging attack method. Exploitation of contract vulnerabilities was the most frequent attack method, with 99 out of 191 attack incidents stemming from contract vulnerabilities, accounting for 51.8%. Approximately $295 million of stolen funds were recovered throughout the year, accounting for about 21.1%, showing a significant improvement compared to 2022. About $330 million of stolen funds were transferred to mixers, accounting for 23.6% of the total stolen funds.In contrast to the significant decline in on-chain hacker attacks, phishing scams, and project Rug Pull amounts, the off-chain crypto crime data saw a substantial increase in 2023. In 2023, the global crypto industry crime amount reached an astonishing $65.688 billion, up approximately 377% from $13.76 billion in 2022. The top three types of crimes by amount involved were online gambling, money laundering, and fraud.
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