Crypto Market to Experience $3.9 Billion Loss By 2022, Immunefi Reports
- Immunefi Research claims that crypto industry will suffer $3.9 billion loss by 2022.
- Hacks are responsible for 95.6% of the losses.
- The Binance Chain was the most targeted blockchain in the year, with over half of all chain attacks.
Immunefi, the Web3 Bug Bounty Platform, released a report on Jan. 6th indicating that the cryptocurrency industry will experience losses of $3,948,856,037 by 2022.
The report claims that hacks are primarily to blame for the losses, accounting for roughly 95.6%. The remaining 4.4% of losses were attributed to other issues such as fraud, scams and the ponzi scheme.
In particular, 2022 saw losses of over $3,773,906,837 from 134 incidents. This is a 56.2% increase from 2021, when the crypto market lost $2.036,015,896.
DeFi was the most impacted sector, losing about 80.5%, while CeFi losses stood at 19.5%. Specifically, DeFi experienced losses of $3,180,023,103 across 155 incidents, which is a 56.2% increase compared to the losses of $2.036,015,896 across 101 incidents in 2021.
Crypto markets are beginning to face a potential loss of $3.9 billion by 2022, according to Immunefi’s research.
This was first reported by CoinEdition.
View Original on CoinEdition