Crypto losses reach $428 mn in Q3 globally, hacks top concern

The world saw crypto losses up to $428 million in the third quarter (Q3), down 36 per cent from Q2, from hacks and frauds, a new report has shown. An analysis of the crypto losses by bug bounty platform Immunefi found that fraud accounts for only 7 per cent of the total losses in the Q3 2022, while hacks account for 93 per cent.