Crypto losses hit $685 million in Q3, $1.4 billion year-to-date: Immunefi
Web3 projects witnessed $685.5 million in losses during Q3, with major exploits on cross-chain protocols Mixin Network and Multichain accounting for nearly half of the total losses. The Q3 losses represent a 59.9% increase on the $428.7 million lost in Q2, with incidents up 153% year-over-year, according to the latest report from web3 bug bounty platform Immunefi.
The losses marked the worst quarter for the year, reaching $1.4 billion in 2023 due to hacks and fraud.
#crypto #cryptonews