According to experts from rewards platform Immunefi, in the second quarter of 2022, the total loss of crypto projects from hacking and fraud amounted to $670,698,280.

Experts counted 50 incidents during the period, 49 of which were related to DeFi protocols. The main share of losses – 96.62% – is associated with hacks.

Four projects suffered the most this quarter:

Immunity experts noted that compared to the same period last year, losses of crypto projects from the actions of intruders increased by about one and a half times.

In the first quarter of 2022, hackers and scammers withdrew more than $1.22 billion from various protocols. The largest attacks were the Wormhole and Ronin events, which amounted to $319 million and $625 million, respectively.

In May, the Wormhole team paid $10 million through Immunefi to a white-hat hacker who discovered a critical vulnerability in the protocol. This is the maximum reward in the project’s bounty program. Only MakerDAO offers the same.

Recall that since the beginning of the year, hackers targeting the crypto industry have hacked 175 projects and stolen $1.97 billion worth of assets, according to Atlas VPN.

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