Annual Web3 Security Report 2023
The 2023 Web3 Security Report highlights $1.7 billion in losses from 440 incidents, with rug pulls causing $352.27 million. Smart contract vulnerabilities led to $204.55 million in damages.
A quick summary
01
QuillMonitor has extensively tracked over 1000+ hacks, totalling losses of $7.5 billion since 2020.
02
2023 witnessed a significant total loss of $1.7 billion across the web3 ecosystem, notably impacted by substantial losses incurred by Mixin Kernel ($200M) and Euler Finance ($196M)
03
Incident numbers surged to 440 in 2023, surpassing the 376 recorded hacks in 2022, marking an alarming increase in cyber threats and the need for robust security solutions in the crypto & blockchain realm.
04
Rug pulls emerged as the primary cause, contributing to the majority of losses, accounting for $352.27 million across 137 incidents.
05
Smart contract vulnerabilities ranked as the second most damaging attack type, resulting in a substantial loss of $204.55 million.
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