In the second quarter of 2022, 48 major attacks were monitored in Web3 space, with a total loss of approximately $ 718.34 million, down about 40% from the first quarter of $ 1.2 billion, and the first in 2021. It was about 2.42 times the quarterly loss ($ 296.56 million).
Click here to download Complete second quarter web3 security reportOr read the summary below.
From January to June 2022, the total amount of assets lost in Web3 space due to the attack was $ 1,912.87 million.
Important point
- April was the most active month of hacking. The number of attacks and losses can be significantly reduced. Hacking activity increased in June.
- By project type, DeFi frequency remains the highest. About 79.2% of attacks occur in the DeFi domain.
- All chains and projects attacked saw a significant drop in TVL values in May. For most projects, TVL decreased shortly after being attacked.
- By chain, Ethereum had the largest loss this quarter at $ 381.35 million. The most frequently attacked chain was the BNB chain with 26 exploits.
- The most common hacking techniques continue to be contract vulnerability exploits and flash loans. About 45.8% of the attacks were contract exploits. The largest loss was due to a flash loan totaling $ 233 million.
- Approximately $ 418.89 million of the stolen funds were sent to Tornado.cash by hackers. That’s 58.3% of the total amount stolen during the quarter.
- Only 52% of the attacked projects were audited.
- Forty-three major rug-pull cases in the chain were monitored this quarter with a total loss of approximately $ 34,266,402. Due to incomplete statistics, the Discord server has been hacked more than 151 times. Frequent security incidents of rug pulls and phishing occurred in May and June.
All charts and graphs in this report can be viewed at:
https://www.footprint.network/@Beosin/Footprint-Beosin-Q2-Report
Overview
DeFi security remained a concern in the second quarter of 2022, with approximately 79.2% of attacks occurring in Defi space. DeFi has been the focus of hacker attacks for the second consecutive quarter. NFTs, cross-chain bridges, and replacement security incidents are less frequent than DeFi incidents, but some incidents have been costly. All types of Web3 projects need to be more secure.
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