---
title: "$1.8B was lost to Web3 hackers and fraudsters in 2023: Immunefi"
url: https://diffcoin.com/1-8b-was-lost-to-web3-hackers-and-fraudsters-in-2023-immunefi/
description: "2023 saw a total of $1.8 billion lost to Web3 hackers and scammers, according to a Dec. 28 report from blockchain security platform Immunefi. Seventeen…"
published: 2023-12-28
updated: 2023-12-28
author: "Mila"
site: "Diffcoin"
---

# $1.8B was lost to Web3 hackers and fraudsters in 2023: Immunefi

2023 saw a total of $1.8 billion lost to Web3 hackers and scammers, according to a Dec. 28 report from blockchain security platform Immunefi. Seventeen percent of the losses are attributed to the North Korea-linked Lazarus Group, the report stated.

The biggest hack of the year in terms of losses was peer-to-peer trading platform Mixin Network, which resulted in over $200 million of losses to crypto investors. In second place was the $197 million exploit of lending platform Euler Finance, and in third was the $126 million hack of cross-chain bridge protocol Multichain.

*Top ten crypto hacks in 2023. Source: Immunefi*

According to the report, approximately $309 million of losses have been identified by law enforcement as being associated with the Lazarus Group, a cybercriminal organization with ties to the Democratic People’s Republic of Korea, also known as North Korea. These losses include those from the Atomic Wallet hack ($100 million), Coinex ($70 million), Alphapo ($60 million), Stake, Coinspaid, and others.

***Related:** **Atomic Wallet faces lawsuit over $100M crypto hack losses: Report***

The vast majority of funds lost were from hacks rather than frauds. Only $103 million was lost from clearly identifiable frauds such as rug pulls, whereas over $1.6 billion was lost from hacks and exploits. The majority of losses — $1.3 billion — came from protocols claiming to be decentralized. Only $409 million was lost from centralized finance (CeFi) crypto protocols, the report stated.

The $1.8 billion loss appears to represent a more than 52% decline from the previous year, when blockchain security platform Chainanalysis reported over $3.8 billion in stolen funds.

[Source link](https://cointelegraph.com/news/1-8-billion-lost-web3-hackers-fraudsters-2023-immunefi)