Blockchain safety agency SlowMist is revealing that lots of of exploits occurred on decentralized networks final 12 months leading to billions of {dollars} in losses.
In its newest annual report, the safety agency says that the crypto trade recorded losses of $3.77 billion in 303 incidents final 12 months, a 61% lower in comparison with the $9.79 billion in losses witnessed in 2021.
In response to SlowMist, numerous blockchain sectors equivalent to decentralized finance (DeFi), non-fungible tokens (NFTs) and cross-chain bridges took the brunt of the safety breaches.
“There have been a complete of 255 safety incidents affecting numerous ecosystems, together with DeFi, cross-chain bridges, and NFTs. Moreover, there have been 10 safety incidents involving exchanges, 11 incidents involving public chains, 6 incidents involving wallets and 21 incidents of different varieties.”
The blockchain safety agency additionally says that the BNB blockchain suffered the most important losses within the DeFi house in 2022 regardless of Ethereum’s (ETH) dominance of the sector.
“There have been 183 main DeFi safety incidents in 2022, leading to losses of $2.075 billion, or roughly 55% of the full losses for the 12 months.
Amongst these incidents, there have been roughly 79 on BNB Chain, leading to a complete lack of round $785 million, making it the platform with the very best losses.
Ethereum had round 50 safety incidents, leading to a complete lack of about $528 million, adopted by Solana with about 11 incidents and a complete lack of round $196 million.”
Safety incidents in cross-chain bridges had losses of $1.21 billion final 12 months, per the report.
Within the NFT house, attackers employed numerous strategies to steal belongings together with phishing, rug pulling and exploiting contract vulnerabilities, in response to SlowMist. NFT safety incidents resulted in losses of roughly $65.44 million in 2022.
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