$3.9 billion lost in the cryptocurrency market in 2022: Report



Immunefi, a bug bounty and security services platform for the Web3 ecosystem, revealed on Jan. 6 that the crypto sector will lose 3.9 billion dollars in 2022.

According to the study, hacking was shown to be the primary source of the losses.

Accounting for 95.6% of the total, with the remaining 4.4% made up of fraud, scams, and rug pulls

Centralised finance (CeFi) experienced losses of 80.5%, whilst centralised finance (CeFi) suffered losses of 19.5%

"In 2022, DeFi sustained total damages of $3,180,023,103 over 155 occurrences. This figure indicates a 56.2% rise over the previous year, when DeFi lost $2,036,015,896 in 107 occurrences."

The most targeted chains were BNB and Ethereum, with BNB Chain overtaking Ethereum to become the most targeted.

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