> in August 2021 they were exploited for an (at the time) record-setting $611 million.
> Now, it's happened again, and some reports are throwing around even more massive numbers like $42 billion. In reality, the exploiters were able to mint massive quantities of tokens on multiple networks, with their wallet balances showing numbers in the billions. However, complete lack of liquidity for these tokens meant their "billions" are worth substantially less.
> According to crypto research firm Beosin, the attackers have so far cashed out around 5,196 ETH (~$10.1 million) in liquid assets. Poly Network suspended services shortly after the attack.
Nearly all of these are blockchain/NFT stuff and not decentralised internet infrastructure. There's probably more money stolen from physical highway construction than Web3 infra.
She keeps a tally of all the scams. The total is now over $67 billion.
[1] https://web3isgoinggreat.com/