It’s no secret that in 2022 the world of Web3 and decentralized finance (DeFi) experienced a slew of major exploits and attacks. From the Ronin bridge attack to the Nomad hack, the top 10 exploits alone saw over $2 billion lost.

In the Beosin Global Web3 Security Report 2022, it revealed that of 167 major security incidents over the last year those rooted in DeFi were the most vulnerable. DeFi projects were attacked 113 times, which accounted for approx. 67.6% of recorded attacks.

This is followed by attacks on exchanges, nonfungible token (NFT) projects, cross-chain bridges and wallets in that order.

According to the report, DeFi projects came in second in terms of monetary losses with a total of $950 million in losses. This follows the $1.89 billion lost in cross-chain bridge exploits in the last year.

(By SAVANNAH FORTIS)