$3.9B Worth of Crypto Assets Were Stolen In 2022, A 51% Decline From 2021

Dhirendra Kumar
January 5, 2023 Updated August 2, 2025
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Immunefi, a bug bounty and security services platform for Web3, assesses the volume of crypto funds lost due to hacks and scams on a quarterly and yearly basis. They recently published “Crypto Losses in 2022,” report in which they found that $3,948,856,037 (or $3.9 billion) worth of crypto were stolen (or lost) across the Web3 ecosystem in

The report found that $3.7 billion was lost to hacks in 134 different hacking incidents, and $174 million was lost to fraud in 34 different scams.

The majority of those funds were lost by four projects: Ronin Network, BNB Chain, Wormhole, and FTX.

While it may appear to be a large sum of money to get stolen and scammed, it is down 51.2% from 2021, when over $8 billion was stolen, according to the report.

Also Read: Top Cryptocurrencies To Buy In January 2023 For 10X Returns

Major Loss Trends

According to the report, hacking proved to be the predominant cause of losses, accounting for 95.6% of total losses. Whereas, frauds, scams, and rug pulls accounted for 4.4% of the total losses.

Crypto loss 2022

Also Read: Top Ethereum Tokens To Buy In January 2023

Both decentralised finance (DeFi) and centralised finance (CeFi) took hard hits in 2022. 2022 witnessed  the implosion of the Terra/LUNA ecosystem and the downfall of the centralised crypto exchange FTX.

In addition to this, DeFi was the main target for hacking, accounting for 80.5% of total losses, while CeFi accounted for 19.5%.

In 2022, DeFi losses soared by 56.2% to $3.18 billion (in 155 different incidents), from $2 billion in 2021. Meanwhile, CeFi’s losses decreased by 87.3%, from $6 billion in 2021 to $768.8 million in 2022.

The BNB Chain and Ethereum were the two most targeted blockchains in 2022, with 65 and 49 incidents, respectively. BNB Chain and Ethereum accounted for 63.3% of all blockchain attacks. Solana came in third with 12 incidents, or 6.7% of overall attacks in 2022.

Crypto “losses” are likely to be in the billions in 2023 unless all projects, blockchains, protocols, and other digital asset organisations prioritise security.

Also Read: Top Undervalued Crypto Coins To Invest In January 2023

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Dhirendra is a writer, producer, and journalist who has worked in the media industry for more than 3 years. A technology enthusiast, a curious person who loves to research and know about things. When he is not working, you can find him reading and understanding the world through the lens of the Internet.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.