Web3 Loses $1.2 Billion to Hacks and Rug Pulls so far in 2023: Report

Web 3 platforms have lost over $1.2 billion so far this year in hacks and rugs pulls, according to a report from web3 bug bounty platform Immunefi. The report revealed a total of 211 separate incidents contributing to this massive sum, with the month of August alone accounting for $23.4 million in losses. The surge in losses during August mostly contributed to projects hosted on the newly launched Ethereum Layer 2 Base network. ... Read More: Web3 Loses $1.2 Billion to Hacks and Rug Pulls so far in 2023: Report