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    Immunefi Crypto Losses - Q1 2022

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    Pranav Mishra
    The document summarizes crypto losses in Q1 2022, totaling $1,229,500,867 across 25 hacking attempts and fraud cases. The largest losses were from Ronin Network at $625 million and Wormhole at $326 million, while fraud caused $11 million in losses from two projects.

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    Immunefi Crypto Losses - Q1 2022

    Uploaded by

    Pranav Mishra
    12 views3 pages
    The document summarizes crypto losses in Q1 2022, totaling $1,229,500,867 across 25 hacking attempts and fraud cases. The largest losses were from Ronin Network at $625 million and Wormhole at $326 million, while fraud caused $11 million in losses from two projects.

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    Immunefi_Crypto_Losses_-_Q1_2022

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    The document summarizes crypto losses in Q1 2022, totaling $1,229,500,867 across 25 hacking attempts and fraud cases. The largest losses were from Ronin Network at $625 million and Wormhole at $326 million, while fraud caused $11 million in losses from two projects.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    12 views3 pages

    Immunefi Crypto Losses - Q1 2022

    Uploaded by

    Pranav Mishra
    The document summarizes crypto losses in Q1 2022, totaling $1,229,500,867 across 25 hacking attempts and fraud cases. The largest losses were from Ronin Network at $625 million and Wormhole at $326 million, while fraud caused $11 million in losses from two projects.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    CRYPTO LOSSES

    Q1 2022
    CRYPTO LOSSES IN Q1 2022
    Prepared by Immune

    The team at Immune , the leading bug bounty and security services platform
    for web3 which protects over $100 billion in users’ funds, has assessed the
    volume of crypto funds lost by the community due to hacks and scams in Q1
    2022.

    Overview
    The global web3 space was valued at $3 trillion in 2021, and there is more than
    $214 billion locked across di erent smart contracts according to DeFi Pulse.
    That capital represents an unparalleled and attractive opportunity for blackhat
    hackers.

    We have reviewed all instances where blackhat hackers have exploited various
    crypto protocols, as well as cases of alleged fraudulent protocols and founders
    who have performed a rug pull in Q1 2022. We have located 25 such instances,
    including both successful and semi-successful hacking attempts, as well as
    fraud.

    In total, we have seen a loss of $1,229,500,867 across the web3 ecosystem in


    Q1 2022. Most of that sum was lost by 2 speci c projects, Ronin Network,
    known for the Axie In nity game, and the Wormhole bridge. Unlike in previous
    quarters, fraud was the cause of loss only for two projects: Arbix Finance and
    Frosties, with the total gure amounting to $11,000,000.

    These numbers represent almost a 7.9x growth compared to Q1 2021, when


    hackers and fraudsters stole $154,609,199, and 1.6x growth compared to Q4
    2021, when $753,386,793 was lost.

    If you’re a developer thinking about a bug-hunting career in Web3, we got


    you. Check out our ultimate blockchain hacking guide, and start taking
    home some of the $126M in rewards available on Immune — the leading
    bug bounty platform for Web3.

    https://immune .com/
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    TOP 10 LOSSES IN Q1 2022

    Ronin Network $625,000,000

    Wormhole $326,000,000

    Qubit $80,000,000

    Cashio $50,000,000

    IRA Financial $36,000,000

    Crypto.com $30,000,000

    Lympo $18,700,000

    Super uid $13,000,000

    Arbix Finance * $10,000,000

    * the team behind Arbix Finance performed a rug pull

    Get the full dataset here

    About Immune
    Immune is the leading bug bounty and security services platform for web3,
    which features the world’s largest bounties. Immune guards over $100 billion
    in users’ funds across projects like Synthetix, Chainlink, SushiSwap,
    PancakeSwap, Bancor, Cream Finance, Compound, Alchemix, Nexus Mutual,
    and others. The company has paid out the most signi cant bug bounties in the
    software industry, amounting to over $20 million, and has pioneered the scaling
    web3 bug bounties standard. For more information, please visit
    https://immune .com/
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