According to PANews, the Web3 sector experienced a total loss of $778 million in the first quarter of 2024 due to cyber attacks, phishing scams, and project Rug Pulls. Specifically, there were 39 major attack events with a total loss of approximately $617 million, 43 Rug Pull events with a total loss of about $75.5 million, and phishing scams with a total loss of around $86.24 million. Compared to the same period in 2023, the total loss in Q1 2024 increased by approximately 126% and 72% sequentially, with the amount lost in cyber attacks higher than any quarter in 2023. February saw the highest monthly loss of $422 million.
Notably, Web3 gaming platforms became the project type with the highest loss amount for the first time, with six attack events causing a loss of $365 million, accounting for 59% of all attack losses. Ethereum continued to be the chain with the highest loss amount and the most attack events, with 18 attack events causing a loss of $342 million, accounting for 55.4% of the total loss. In this quarter, there were 13 private key leakage events, resulting in a loss of $458 million, accounting for 74.3% of the total attack loss amount, making it the highest proportion of attack types.
However, according to Beosin KYT's anti-money laundering analysis platform, most of the stolen assets have been frozen or recovered, with approximately $303 million (49.2%) of stolen funds frozen and $79.45 million (12.9%) of stolen funds recovered. Additionally, the proportion of audited projects among the attacked projects has increased.