September stands as the worst month of 2023 in terms of cryptocurrency-related exploits. During this month, a serious setback was recorded with the theft of $329.8 million in digital assets.
CertiK, a blockchain security firm, noted that the most shocking event of the month was the attack on the Mixin Network on September 23. In the said incident, the Hong Kong-based cross-chain transfer protocol suffered the loss of 200 million due to a vulnerability in its cloud service provider.
Adding all the incidents in September, the loss of approximately 332 million is confirmed due to exploits, hacks and scams. Exit scams accounted for around $1.9 million, while flash loans reached $0.4 million. However, exploits took the largest share with nearly 329.8 million in losses. For more details, keep reading below.
Other relevant events of the month include the attacks on the exchange platforms CoinEx and Stake.com, which resulted in losses of 53 and 41 million, respectively.
The North Korean hacking group Lazarus Group was identified as responsible for both attacks. According to the latest figures from Dune Analytics, the group currently holds $45.6 million in cryptocurrencies.
This recent attack has raised the total amount of cryptocurrency lost so far this year due to exploits to a staggering 925.4 million. In this sense, the month of July ranked second in terms of losses due to exploits, with 285.8 million stolen.
In addition to the aforementioned losses, 1.9 million were reported in exit scams, 400,000 in flash loan attacks and another 25 million in phishing attacks, according to CertiK data.
In summary, the total losses in 2023 due to exploits, scams and hacks already amount to an astronomical figure of USD 1.34 billion.
According to blockchain security company Beosin, total losses from hacks, phishing scams, and exit scams in the third quarter of 2023 were around $890 million. These losses even exceeded the sum of the first two quarters, which reached 330 million in the first quarter and 333 million in the second, as reported by Beosin at the end of last week.
(Referential image source: Kanchanara, Unsplash)