Web3 Sector Loses Nearly $200 Million in June Due to Exploits, Hacks, and Scams
According to Foresight News, the Web3 sector suffered large losses in June as a result of vulnerabilities, hacking assaults, and fraud. The losses were around $198.3 million, making it the second-largest monthly loss in 2024. Additionally, approximately $1.3 million was refunded via security issues.
The analysis of losses shows that exit scams accounted for around $4.8 million, flash loan losses were around $23.5 million, and vulnerability exploit losses were approximately $171.3 million. These data underscore the continued security issues in the Web3 sector, as well as the importance of strong security measures to mitigate these risks.