CertiK: Web3 Industry Lost $310 Million Due to Security Incidents in Q2

According to Cointegraph, CertiK released the Web3 industry report for the second quarter of 2023. The report shows that in the second quarter of 2023, the Web3 industry caused a loss of 310 million U.S. dollars due to attacks by malicious actors such as hackers and exit scams, compared with the 3.2 million U.S. dollars in the first quarter. The loss was close to $745 million in the second quarter of 2022, a 58% drop from the $745 million loss in the second quarter of 2022. Additionally, a total of 212 security incidents occurred during the quarter. Despite the lower totals recorded compared to 2022, losses from exit scams increased this quarter to approximately $70 million, more than doubling quarter-over-quarter. The report also noted that losses from flash loans and oracle manipulation vulnerabilities dropped significantly in the second quarter compared to the first quarter of 2023. In total, there were 52 oracle manipulation attacks in Q1, resulting in losses of approximately $222 million, with the Euler Finance hack alone accounting for 85% of the losses. In the second quarter, there were 54 flash loan and oracle manipulation attacks, resulting in losses of about $23 million, an 89% drop from the first quarter.