January 2023 Monthly Report

January 2023 Web3 incident overview: approximately $28.0M lost across 55 recorded attacks, driven largely by exit scams (~$10.2M) and several major exploits including the LendHub exploit (~$5.3M) and a GMX wallet compromise (~$3.5M); the month also saw numerous flash-loan drains and phishing campaigns (Discord/Twitter/NFT scams) that led to smaller but frequent losses, with attackers using cross-chain transfers and mixers like Tornado Cash to launder funds.