Immunefi Archives - The Block

Three quarters of rug pulls happened on BNB Chain in Q1 2023

Of all the rug pull scams carried out across the crypto ecosystem in the first quarter of 2023, almost three quarters occurred on Binance’s BNB Chain, according to a report from Immunefi.

The blockchain security firm’s latest report, ‘Crypto Losses in Q1 2023’, looked at the different kind of crypto hacks, scams, and exploits that took place in the first three months of the year.

It found that 73.3% of rug pull scams, where developers attract investor money for a...

6 April 2023 | Cryptocurrency

Immunefi: Hacks made up 95% of lost crypto funds in 2022

Web3 bug bounty platform Immunefi has found that hacks accounted for 95 percent of the $3.9 billion (£3.23bn) lost in the crypto industry in 2022.

The figures come from the firm’s new ‘Crypto Losses in 2022 Report’, with fraud, scams, and rug pulls making up the last 5 percent.

According to the report, decentralised finance (DeFi) was the most targeted sector in the crypto industry, suffering 80 percent of the losses, whilst centralised finance firms took the...