Q3 Blockchain Security Report: $400 million loss, DeFi and cross-chain bridges at high risk

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Analysis of the Global Blockchain Ecosystem Security Status in the Third Quarter of 2022

In the third quarter of 2022, security incidents in the global Blockchain ecosystem occurred frequently, resulting in significant losses. According to statistical data, there were more than 37 major attack incidents in that quarter, with total losses amounting to approximately 400 million USD.

2022 Q3 Global Blockchain Security Report: Total losses approximately $405 million, DeFi becomes a high-frequency accident area

Compared to the previous quarter, the number of attack incidents has decreased this quarter. However, the amount of losses is still quite substantial, with 92% of the losses coming from cross-chain bridges and DeFi projects. This indicates that these two areas remain the primary targets for hacker attacks.

2022 Q3 Global Blockchain Security Report: Total Losses of Approximately $405 Million, DeFi Becomes High-Incident Area

In the attacked Blockchain network, Ethereum suffered the most significant losses, amounting to 374.28 million dollars. This figure highlights the enormous security challenges faced by the Ethereum ecosystem.

2022 Q3 Global Blockchain Security Report: Total loss of approximately $405 million, DeFi becomes a high-incident area

From the perspective of attack methods, contract vulnerabilities and private key leaks are the main reasons for 92% of the losses. This indicates that the security of smart contracts and private key management are still areas that blockchain projects need to focus on.

2022 Q3 Global Blockchain Security Report: Total Losses Approximately $405 Million, DeFi Becomes High Incident Area

It is worth noting that approximately $240 million of the stolen funds flowed into mixing services. This reflects the attackers' attempt to obscure the flow of funds through mixing services, making tracking more difficult.

2022 Q3 Global Blockchain Security Report: Total Losses of Approximately $405 Million, DeFi Becomes a High Incident Area

Another concerning piece of data is that only 40% of projects have undergone security audits. This indicates that the majority of projects may have potential risks in terms of security, highlighting an urgent need to strengthen security awareness and protective measures.

2022 Q3 Global Blockchain Security Report: Total losses of approximately $405 million, DeFi becomes a high-frequency accident area

Overall, the blockchain security situation in the third quarter of 2022 remains severe. DeFi and cross-chain bridge projects are still high-risk areas that require more attention and protection. At the same time, increasing the coverage of project security audits, strengthening the security of smart contracts, and managing private keys will be key to improving the overall security level of the ecosystem.

2022 Q3 Global Blockchain Security Report: Total Loss Approximately $405 Million, DeFi Becomes High-Frequency Accident Zone

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NotFinancialAdviservip
· 4h ago
Another Money Laundering quarter
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PumpDetectorvip
· 08-02 15:06
watching smart money like a hawk... when institutions move, you move. mt gox survivor. not your keys = not your coins
Reply0
DoomCanistervip
· 08-02 15:02
Another round of playing people for suckers, hackers really make money.
View OriginalReply0
StablecoinAnxietyvip
· 08-02 14:57
The thief made a big profit again, buy the dip and get some BTC to calm down.
View OriginalReply0
BearMarketMonkvip
· 08-02 14:56
Cut Loss sacrifices proceed as usual, the country remains unchanged forever.
View OriginalReply0
DataPickledFishvip
· 08-02 14:50
Not only is there no money to be made, but one also has to be on edge.
View OriginalReply0
FarmToRichesvip
· 08-02 14:46
How many retail investors and suckers can this money buy?
View OriginalReply0
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