Crypto projects lost nearly $889 million to hacks, phishing scams, and rug pulls during the third quarter, blockchain security firm Beosin revealed in its Global Web3 Security Report.
According to the report, crypto investors lost $282.96 million to rug pulls across 81 incidents, while phishing schemes generated $66.15 million in ill-gotten gains during the same quarter.
The biggest hit came from hacks where 43 crypto projects suffered security breaches that led to the loss of $540.16 million. During the period, CryptoSlate reported notable hacks of different crypto projects, including the $200 million hack of Mixin Network, the $73 million exploit of Curve Finance, and the $8 million HTX lost to a hot wallet compromise.
Source: Beosin
This marks a significant upsurge compared to the cumulative losses of the first half of the year, totaling $330 million during the first quarter and a slight increase to $333 million by the year’s second quarter.
The report was published in collaborati
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