CRYPTO LOSSESIN AUGUST 2023
PREPARED BY IMMUNEFICrypto Losses: August 2023
July vs. August2023

ANALYSIS• In total, we have seen a loss of $1,245,020,621 to hacks andrug pulls in 2023 from January to August across 211 specificincidents.

$320,498,660• In August 2023 alone $23,366,220 were lost due to hacksand fraud.
• Since its launch in early August, Coinbase-backed Base
protocol has witnessed losses across four projects, sharing
the top of targeted chains with Ethereum and BNB Chain.
• Hacks continue to be the predominant cause of losses ascompared to frauds. In August 2023, a total of $15,812,809
was lost due to hacks.
• In August 2023, DeFi was the main target for exploits, while
CeFi hasn't witnessed a single major exploit.

$23,366,220
July

AugustPREPARED BY IMMUNEFI2

Hacks vs. Fraud Analysis

Hacks vs. Fraud
August 2023

In August 2023, hacks continue to be the predominant cause of losses ascompared to frauds, scams, and rug pulls. An analysis of the losses shows thatfraud accounts for 32.3% of the total losses in August 2023, while hacks accountfor 67.7%.

OVERVIEW

Fraud
32.3%

• Hacks
In total, we have seen a loss of $15,812,809 to hacks in Agust 2023 across 13
specific incidents.
• Fraud
In total, we have seen a loss of $7,553,411 to fraud in August 2023 across 4
specific incidents.

Hacks
67.7%

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3

DeFi vs. CeFi Analysis

DeFi vs. CeFi
August 2023

In Agust 2023, DeFi continues to be the main target for exploits, compared to CeFi.
DeFi represents 100% of the total losses, while CeFi hasn't witnessed a singlemajor exploit.

OVERVIEW• DeFi
DeFi has suffered $23,366,220 in total losses in August 2023 across 17 incidents.
• CeFi
CeFi hasn't witnessed a single major exploit during August 2023.

DeFi
100%
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4

Losses by Chain
The most targeted chains in August 2023 were Ethereum, Base and BNB Chain.
Ethereum suffered the most individual attacks with 5 incidents, representing 24%of the total losses across targeted chains. Base and BNB Chain witnessed 4incidents each, representing 19% respectively.

OVERVIEW• Ethereum, Base and BNB Chain represent more than half of the chain losses inAugust 2023 at 62%, followed by Optimism with 2 incidents, representing 9.5%.
Arbitrum, Solana and Avalanche witnessed 1 incident each, representing 4.8%
respectively. Remaining chains like Fantom, Linea and others together represent
14.3% of the total chain incidents, all with single incidents.

INSIGHTS• Since its launch in early August, Coinbase-backed Base protocol has witnessed
losses across four projects, sharing the top of targeted chains with Ethereumand BNB Chain.

Losses by Chain
August 2023
Others3Ethereum
5

Avalanche
1Solana
1Arbitrum
1Optimism
2Base4

BNB Chain
4
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Crypto Losses August 2023
HACKS VS. FRAUDTOTAL LOSSES YTD$1,245,020,621$15,812,809

Hacks$7,553,411

Fraud

IN AUGUST$23,366,220
DEFI VS. CEFI
MAJOR LOSSES$7,300,000$23,366,220

DeFi$6,400,000

CeFi$2,200,000$0TOP LOSSES BY CHAIN$1,148,309 $1,100,000
Ethereum

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For more information about the Crypto Losses Report, please visit immunefi.com/reports.

5Base4

BNB Chain

4Optimism

2

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Disclaimer:• Immunefi uses publicly available data and news reports in order to access and collect alleged frauds, scams, and rug pulls. Including such incidents
in this report does not constitute a determination from Immunefi that a fraud, scam, or rug pull event did occur.
Notes:• Immunefi assesses the volume of crypto funds lost by the community due to hacks and scams by reviewing, validating, and classifying publicly
available data. In this report, Immunefi considered only rug pulls for its fraud category. A rug pull is a project that creates an image of credibility
and attracts outside capital through token sales or other means with the sole purpose of stealing deposited user funds and disappearing.
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