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

Scramble for safety subsides as markets digest Credit Suisse rescue

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

Cryptocurrency Jan 08, 2023 07:40PM ET

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

Immunefi, a bug bounty and security services platform for the Web3 ecosystem, published a report on Jan. 6 revealing that the crypto industry lost a total of 3.9 billion dollars in 2022.

According to the report, hacks were found to be the main cause of the losses, accounting for 95.6% of the total, with fraud, scams, and rug pulls comprising the remaining 4.4%. Immunefi also found that decentralized finance (DeFi) was the most targeted sector, suffering 80.5% in losses, compared to centralized finance (CeFi) which suffered a loss of 19.5%. According to the report:

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