Crypto losses in 2022 total $3.9 billion, Immunefi report says

Quick Take

  • The total amount of crypto funds lost last year was $3.9 billion, a new report from bug bounty platform Immunefi said.
  • Only 5.2%, or $204.2 million, were recovered.

The crypto industry as a whole lost $3.9 billion in 2022,  according to a new report from bug bounty platform Immunefi.

Of those, only 5.2% were recovered, totaling around $204.2 million across 12 instances, the firm also said.

Most losses were due to hacks, while only 4.4% could be attributed to frauds, scams, and rug pulls. DeFi was the main target of those exploits while CeFi was a distant second, according to Immunefi.


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Another Chainanalisys report had estimated total losses due to crypto hacks in 2022 at a more conservative $3 billion.

Among the largest crypto hacks carried out last year were the attack on Ronin Network, resulting in the loss of $625 million, and FTX, which lost between $370 million and $400 million.

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About Author

Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).


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