Crypto Losses in 2022 Dropped 51% YoY

Crypto Losses in 2022 Dropped 51% YoY

Immunefi’s Crypto Losses 2022 report found that over USD 3.9 billion was ‘lost’ last year. While that might seem like a whopping amount of capital to lose track of, it’s down 51.2% compared to 2021, when over USD 8 billion was stolen, the report found.

  • The five major exploits of the year totaled USD 2,361,000,000 alone, accounting for 59.8% of all losses in 2022.
  • In 2022, hacks continued to be the predominant cause of losses at 95.6%, in comparison to frauds, scams and rug pulls which comprised only 4.4% of the total losses. In total, we have seen a loss of USD 3,773,906,837 to hacks in 2022, over 134 specific incidents. This number represents a 58.3% increase compared to 2021, when losses caused by hacks totalled USD 2,384,164,452 over 102 incidents.
  • In 2022, DeFi continued to be the main target of successful exploits at 80.5%, as compared with CeFi at 19.5% of the total losses. DeFi has suffered USD 3,180,023,103 in total losses in 2022, across 155 incidents. This number represents a 56.2% increase compared to 2021, when DeFi lost USD 2,036,015,896 over 107 incidents.
  • The two most targeted chains in 2022 were BNB Chain and Ethereum, representing more than half of the chain attacks in 2022, at 63.3%. BNB Chain surpassed Ethereum and became the most targeted chain in 2022 with 65 incidents, representing 36.1% of the total, while Ethereum witnessed 49 incidents, representing 27.2%.
  • In total, USD 204,157,000 of stolen funds have been recovered across 12 specific cases. This number represents just 5.2% of the total losses in 2022.

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