*This is 7 times more than in the same period last year

*In total, losses amounted to $208.5 million

*However, $4.5 million was returned

*The Atomic Wallet suffered the greatest losses

The second quarter of 2023 was not entirely favorable for the DeFi sector. About $204 million was lost as a result of hacks and fraud in the field of decentralized finance.

Initially, more than $208.5 million was lost, but through prosecution and making deals with the hackers, approximately $4.5 million was recovered. As a result, the total amount of unrecovered funds exceeded $204 million.

In a report called “Q2 De.Fi Rekt Report,” it writes that in the second quarter, almost 7 times more cases of hacking were detected compared to 2022. There were 117 incidents during this period, compared to 17 last year.

The five most significant hacks were against Atomic Wallet, Fintoch, MEV-Boost, Bitrue and GDAC. The Atomic Wallet exploit, which occurred on June 3, resulted in a loss of $35 million, approximately 17% of the total. Fintoch users suffered $30.6 million in losses due to potential theft, and the MEV-Boost attack resulted in a loss of $26.1 million. In total, these three attacks accounted for more than 45% of the total losses in the second quarter.

One of the most common causes of losses was access control issues where an attacker gained unauthorized access to a wallet. These problems resulted in a loss of $75.8 million, a quarter of the total loss.

The second most common reason was exploits, which resulted in a total loss of $55.3 million. There were also $47.3 million in losses associated with withdrawals.