The increase in attack incidents in Q3 2023 compared to the same quarter last year is concerning. According to a report from Immunefi, there was a 153% increase in attack incidents for crypto and Web3 projects during this period. The number of attack incidents rose from 30 in Q3 2022 to 76 in Q3 2023. This resulted in a loss of nearly $686 million in the recent quarter.
The report highlights some significant attacks that occurred during this period. The Mixin hack on September 25 drained approximately $200 million, making it the highest loss of the quarter. The Multichain hack was the second-worst attack, resulting in over $126 million in losses that have not been recovered yet. The Lazarus Group was responsible for draining over $208 million worth of crypto through multiple attacks on centralized services.
Rug pulls and other scams accounted for only $23 million, or 3.3% of total losses, in Q3. The remaining 96.7% of losses came from hacks or exploits. However, it is worth noting that monetary losses from scams decreased by 23.9% compared to Q3 2022.
Decentralized finance (DeFi) hacks accounted for the majority of total losses, representing 72.9%. Centralized services accounted for only 27.1% of exploit losses. Ethereum and BNB Chain were the most targeted networks by hackers and scammers, with Ethereum representing 42.7% of losses and BNB Chain representing 30.5%.
In summary, the Q3 2023 report from Immunefi reveals a significant increase in attack incidents for crypto and Web3 projects compared to the same period last year. The report highlights notable attacks, monetary losses, and the distribution of attacks between decentralized and centralized services. Ethereum and BNB Chain were the most targeted networks by hackers and scammers.