More than $204 million in assets were lost from hacks and scams from DeFi projects in the second quarter of 2023, according to a June 27 report from De.Fi portfolio app Web3.
Titled the “Q2 De.Fi Rekt Report,” the report references, in part, data from De.Fi’s “Rekt Database.” Initially, it lost $208.5 million during the quarter. But it got back $4.5 million from the lawsuit. including making deals with hackers and other recovery methods
According to the report, the number of DeFi hacks in Q2 increased “nearly 7x” year-on-year. There were 117 incidents during that time. compared to just 17 in the same quarter of 2022, for a total of over $665 million lost. in the first half of 2023
The top five hacks of the second quarter were Atomic Wallet, Fintoch, MEV-Boost, Bitrue and GDAC. The Atomic Wallet attack on June 3 caused $35 million in damage, or about 17% of the total user segment. Fintoch lost $30.6 million from the rug pull and the MEV-Boost attack caused $26.1 million in damage. These three attacks resulted in more than 45% of the total losses for Q2.
De.Fi reports that the most common cause of loss is “Access Control Issues,” or issues where attackers can gain unauthorized control over wallets. And this caused over $75.8 million in damage, or a quarter of the total. The second cause is vulnerability attacks. There was $55.3 million in losses, and $47.3 million in user losses from scams or rug pulls in Q2 as well.
Losses from DeFi hacks and scams in Q2 were smaller than in Q1, with CertiK reporting in April that it lost over $320 million from January to March.
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