The rise of the crypto industry has led to an increase in theft scams and "rug pulls," which remain a concern. The Q2 2023 Web3 Security Report by CertiK revealed that malicious actors stole $313 million from DeFi during the quarter, with over 100 incidents occurring on the BNB Chain resulting in user losses of around $71 million.

Ethereum reported approximately 55 events, which resulted in user losses of approximately $66 million. While exit scams, also known as "rug pulls," tripled the amount of money lost by investors, flash loans and oracle manipulation vulnerabilities decreased due to better security mechanisms in DeFi protocols.