Immunefi, Web3’s leading bug bounty platform, and the software company reported on January 6 that the crypto industry has a total loss of about $3,948,856,037 in 2022.
As per the reports, the major cause of the losses is the hacks, which constitute around 95.6% of the total. Meanwhile, only 4.4% could be attributed to the rest of the issues including fraud, scams, and rug pull.
To be specific, 2022 has witnessed a loss of almost $3,773,906,837 in 134 particular incidents. While comparing the losses in 2021 and 2022, this year has a substantial increase in the loss by 56.2%.
Significantly, the report suggests that the most targeted sector was decentralized finance (DeFi), with a loss of almost 80.5% while centralized finance (CeFi) suffered only a loss of 19.5%:
In addition, the platform poin …
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Source: Cryptocurrency - investing.com
