Key Pointers:
- Record-breaking Losses: November 2023 became the most damaging month for crypto theft, registering $363 million in losses, predominantly due to exploits and flash loan attacks.
- Prominent Attacks: Poloniex, HTX/Heco Bridge, and KyberSwap witnessed major breaches, resulting in significant financial losses and exacerbating concerns about cybersecurity in the crypto space.
The cryptocurrency world witnesses its most damaging month for scams and exploits, with a staggering $363 million lost in November.
November 2023 emerged as a particularly bleak period for the cryptocurrency realm, recording a surge in thievery, scams, and exploits. According to CertiK, a leading blockchain security firm, a total of $363 million was pilfered throughout the month, marking a distressing pinnacle in the year’s crypto-related malfeasance.
The bulk of the losses, approximately $316.4 million, resulted from exploits, while flash loans contributed $45.5 million to the distressing figure. Additionally, exit scams accounted for a further $1.1 million in financial haemorrhaging, as outlined in a Nov. 30 announcement shared on X (formerly Twitter) by CertiK.
Combining all the incidents in November we’ve confirmed ~$363M lost to exploits, hacks and scams
This makes November the most damaging month this year
Exit scams were ~$1.1M
Flash loans were ~$45.5M
Exploits were ~$316.4M
See more details below 👇 pic.twitter.com/QoDy6d8IJH
— CertiK Alert (@CertiKAlert) November 30, 2023
Major Exploits and Attacks: Highlights of November
Poloniex, HTX/Heco Bridge, and KyberSwap emerge as the primary targets in the cryptocurrency industry’s tumultuous November, facing substantial financial setbacks.
November’s tumultuous landscape of cryptocurrency malfeasance saw Poloniex and HTX/Heco Bridge suffer the largest exploits, bleeding $131.4 million and $113.3 million, respectively. Furthermore, a devastating $27 million was siphoned off from a single victim in a phishing attack, standing as the third-largest incident in the month.
Meanwhile, the KyberSwap attack, amassing $45 million in losses, overshadowed other flash loan assaults, significantly contributing to the month’s distressing figures.