Web3 Witnessed Over $718,000,000 in Losses in Q2 This Year, According to Blockchain Security Firm

New data from a blockchain security company reveals that the Web 3.0 sector suffered hundreds of millions of dollars worth of losses in the second quarter of this year. According to a new report by Beosin, Web 3.0 witnessed 48 major cyber attacks in Q2 with total losses of approximately $718.34 million. The blockchain security firm notes that the figure is down 40% from the $1.2 billion in losses tallied in the first quarter of 2022 but 142% higher than the recorded losses in Q1 2021 worth $296.56 million. “In Q2 2022, 48 major attacks were monitored in the Web 3.0 space, with a total loss of approximately $718.34 million. There were three attacks with losses of $100 million or more, 12 attacks with losses of $10 million or more, and 28 attacks with losses of $1 million or more.”