Crypto losses hit $670M in Q2, up 52% from year-ago period – TechCrunch
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Q2 was full of massive crypto “losses” across the web3 ecosystem, some 97% of which were the result of hacks. Decentralized stablecoin protocol Beanstalk lost $182 million; layer-1 blockchain bridging protocol Harmony Horizon lost $100 million. Total crypto losses declined 45.5% from about $1.23 billion in the first quarter of 2022, according to a previous report by Immunefi. Some market players think hacks are a trend that will continue regardless of current market conditions, and some market players say it will continue in the third quarter of the year. The report identified $670,698,280 worth of losses in Q2, up 52% from $440,021,559 in 2021. Source