How To Calculate Losses

This guide serves as the best practices for calculating the losses that have happened from a case. It is intended to ensure consistency amongst different cases, so that cases can be compared against each other easily.

While best effort is made to enumerate losses into the specific crypto-assets, the ultimate goal is that losses are ultimately reported in USD equivalent.

Pricing of Cryptocurrency Assets

Pricing of assets is taken from the closing market price on the day of the breach. We use the following sources, in order:

• CoinMarketCap.
  • Look up the historical prices and use the closing market price on the day of the breach.
• CoinGecko.
  • In case the item does not have a listed price on CoinMarketCap.
• Nomics.
  • In case the token does not have a listed price on CoinMarketCap or CoinGecko.
• BuyBitcoinsWorldWide.
  • Useful for extremely old bitcoin prices.

Pricing of NFTs

Non-fungible tokens are priced based on the largest sale price of the known sales before or after the breach incident occurs. This is then multiplied by the closing market price of the token used in the transaction. Transaction data can generally be found on OpenSea.

For example, if an NFT is sold for 20 ETH prior to a breach, and the attacker sells the NFT for 40 ETH after the breach, the price of 40 ETH will be used. This would then be multiplied by the closing market price of ethereum on the day of the breach.