Cryptocurrency
world is dealing with a concerning trend. September 2023 has emerged as the
most devastating month of the year so far. It has seen a staggering $329.8
million stolen in crypto-related exploits.
Blockchain
security firm CertiK has identified the primary contributor to this total as
the Mixin Network attack on September 23. During this incident, the Hong
Kong-based decentralized cross-chain transfer protocol suffered a severe breach
of its cloud service provider. It resulted in losses amounting to $200 million.
Other
notable incidents in September included attacks on the CoinEx exchange and
Stake.com. Those two incidents led to losses of $53 million and $41 million,
respectively.
The
Lazarus Group, a hacking collective associated with North Korea, has been implicated
in both of these major attacks. Recent data from Dune Analytics indicates that
the group currently holds approximately $45.6 million in stolen crypto assets.
These
exploits have pushed the year’s total losses due to crypto-related incidents to
a staggering $925.4 million. July stands as the second-worst month for exploit
losses, with $285.8 million stolen.
Combining all the incidents in September we’ve confirmed ~$332M lost to exploits, hacks and scams.
Exit scams were ~$1.9M
Flash loans were ~$0.4M
Exploits were ~$329.8M
See more details below 👇 pic.twitter.com/DMFN9LWU8V
— CertiK Alert (@CertiKAlert) September 30, 2023
Hacks,
Scams, and Exit Scams Eclipse Q1 and Q2 Losses
Beyond
the crypto exploits mentioned earlier, the month of September recorded
substantial losses across multiple fronts. CertiK’s data reveals that exit
scams drained $1.9 million from unsuspecting victims, while flash loan attacks drained
off $400,000. Additionally, the cryptocurrency community suffered a significant
blow of $25 million due to phishing attacks during this period.
When
considering the cumulative impact of crypto exploits, scams, and hacks
throughout 2023, the total loss has now reached an alarming figure of $1.34
billion. It highlights the ongoing challenges and vulnerabilities in the digital
asset space.
Blockchain
security firm Beosin reported that losses from hacks, phishing scams, and exit
scams in the third quarter of 2023 alone amounted to just under $890 million.
This figure surpassed the combined losses in the first two quarters, which
stood at $330 million in Q1 and $333 million in Q2.
Cryptocurrency
world is dealing with a concerning trend. September…
