CertiK: The Web3 industry lost $310 million in the second quarter due to security incidents

ChainCatcher news, according to Cointegraph, CertiK released the Web3 industry report for the second quarter of 2023, which shows that the Web3 industry suffered losses of $310 million in the second quarter of 2023 due to attacks from malicious actors such as hackers and exit scams, close to the $320 million loss in the first quarter, and down 58% from the $745 million loss in the second quarter of 2022.

In addition, a total of 212 security incidents occurred during the quarter. Although the total amount recorded is lower compared to 2022, the losses from exit scams increased this quarter, reaching approximately $70 million, more than doubling quarter-over-quarter.

The report also noted that compared to the first quarter of 2023, losses from flash loan and oracle manipulation vulnerabilities significantly decreased in the second quarter. In the first quarter, there were a total of 52 oracle manipulation attacks, 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, causing losses of about $23 million, a decrease of 89% compared to the first quarter. (source link)