Web3 bandits swipe $1.8 billion in 2023 heists

In 2023, hackers and scammers targeted crypto protocols like Mixin Network, Euler Finance, and Multichain, resulting in a staggering $1.8 billion in total losses.

Mixin Network alone experienced the largest single loss, surpassing $200 million in investor losses.

Euler Finance and Multichain followed as the second and third-largest losses, with $197 million and $126 million, respectively.

The Lazarus Group, a cybercriminal organization associated with North Korea, was identified as responsible for around 17% of these losses, reaching approximately $309 million.

This includes incidents like the Atomic Wallet hack, Coinex, Alphapo, Stake, Coinspaid, and others, according to the blockchain security platform Immunefi.