📉 The crypto market may not have had a growth breakout in September, but that hasn't stopped bad entities from stealing funds.
According to the latest figures from CertIK, about $332 million in digital assets were lost due to exploits, attacks and fraud in September.
🚩 September saw a record for total money lost:
- Exit fraud: approximately $1.9 million
- Quick loan: nearly $0.4 million
- Cryptocurrency-related mining: $329.8 million
CertiK said the majority of the funds lost this month were due to a September 23 attack on Mixin Network, a decentralized cross-chain remittance protocol headquartered in Hong Kong. This incident resulted in a loss of $200 million, mainly due to security vulnerabilities in their cloud service provider.
CoinEX suffered the second major attack with a total loss of $53.1 million. The North Korean state-backed Lazarus group is believed to have organized this attack. Other major events during the month included Stake.com and cryptocurrency exchange HTX, with total losses of $41 million and $7 million respectively.
🔍 Q3 hardest hit by crypto mining:
According to a report by blockchain security firm Beosin, crypto projects lost approximately $889 million due to attacks, scams, and withdrawals in Q3.
In Q3, the total loss surpassed the total loss in the first two quarters of 2023. The loss was about $330 million in Q1 2023 and $333 million in Q2 2023, eventually increasing to 889.26 million dollars in Q3.
DeFi continues to be the most attacked sector, with 29 attacks accounting for 67.4% of total events. Among project types, public chains suffered the largest losses, with Ethereum suffering the largest loss at $227 million. Ethereum also suffered the highest frequency of attacks, a total of 16 attacks.
According to the latest figures from CertIK, about $332 million in digital assets were lost due to exploits, attacks and fraud in September.
🚩 September saw a record for total money lost:
- Exit fraud: approximately $1.9 million
- Quick loan: nearly $0.4 million
- Cryptocurrency-related mining: $329.8 million
CertiK said the majority of the funds lost this month were due to a September 23 attack on Mixin Network, a decentralized cross-chain remittance protocol headquartered in Hong Kong. This incident resulted in a loss of $200 million, mainly due to security vulnerabilities in their cloud service provider.
CoinEX suffered the second major attack with a total loss of $53.1 million. The North Korean state-backed Lazarus group is believed to have organized this attack. Other major events during the month included Stake.com and cryptocurrency exchange HTX, with total losses of $41 million and $7 million respectively.
🔍 Q3 hardest hit by crypto mining:
According to a report by blockchain security firm Beosin, crypto projects lost approximately $889 million due to attacks, scams, and withdrawals in Q3.
In Q3, the total loss surpassed the total loss in the first two quarters of 2023. The loss was about $330 million in Q1 2023 and $333 million in Q2 2023, eventually increasing to 889.26 million dollars in Q3.
DeFi continues to be the most attacked sector, with 29 attacks accounting for 67.4% of total events. Among project types, public chains suffered the largest losses, with Ethereum suffering the largest loss at $227 million. Ethereum also suffered the highest frequency of attacks, a total of 16 attacks.