The 'Crypto Losses in 2023' report published by Immunefi highlights the potential for record losses in the Web3 ecosystem as cryptocurrency prices continue to rise. Despite a decrease in overall losses compared to the previous year, the report warns that the persistent increase in cryptocurrency prices may result in substantial losses in the future. The report also emphasizes the ongoing vulnerability of projects' infrastructure and the slow pace of change within the industry. The Lazarus Group, a North Korea-affiliated hacker group, was responsible for a significant portion of the total losses in 2023, stealing $308.6 million. The group targeted both decentralized finance (DeFi) and centralized finance (CeFi) projects, indicating an escalation in sophistication. Overall, the Web3 space experienced a loss of $1.8 billion in 2023, with BNB Chain and Ethereum being the most targeted chains. However, this total loss represents a decrease compared to the previous year.
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