Web3 is Going Great
Track the realities of Web3, blockchain, and crypto beyond the hype
About Web3 is Going Great
Web3 is Going Great is a critical archive of notable incidents, hacks, scams, and controversies in the Web3, blockchain, and cryptocurrency space. Created by Molly White, this project documents events since early 2021 to provide transparency about the risks and challenges facing decentralized technologies. The timeline includes major exploits, regulatory actions, and market manipulations, offering an unbiased look at the industry's struggles.
FAQ
Dollar values of crypto tokens are estimated based on the token price at the time of the event. For NFTs, the value is typically estimated based on the actual sale price, such as the price at which a stolen NFT was resold by the thief.
For illiquid crypto tokens, the language 'notionally worth' or similar is used to indicate that the estimated value may have a substantial amount of error. The site tries to provide a better estimate based on the actual sale price of the tokens if possible.
No, fiat estimates of crypto are notoriously inaccurate. However, USD estimates are used to give a frame of reference, and the actual number of tokens involved is usually included so users can perform their own estimates.
Yes, estimates are routinely updated when new information comes out to keep them as accurate as possible.
The 'recovered' column reflects lost funds that were recovered, either returned by a thief or recovered by law enforcement. It does not include funds that were 'covered' by an infusion of new funds, as the original assets remain missing.
The grift counter is a running total of the amount of money lost so far to grifts and disasters. It increments as you scroll through the page. You can also choose to start with the total amount scammed and have it decrement as you scroll back in time.
In July 2023, the grift counter was updated to include some of the larger cryptocurrency collapses that were previously omitted due to challenges in reflecting uncertainty in these amounts.
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