In a startling revelation, the cybersecurity firm CertiK has disclosed that the cryptocurrency industry has suffered losses exceeding $1.7 billion due to security breaches in 2023, with November witnessing a dramatic surge.
November Sees Record-High Crypto Losses
The month of November alone accounted for a staggering $363 million lost to malicious activities. CertiK's data shows that flash loan attacks were the most damaging, with Poloniex facing the most considerable individual loss of over $131 million.
Year-to-Date Analysis Highlights Increasing Threats
The year-to-date figures are even more alarming, with total losses due to exploits topping $1.26 billion. Flash loan attacks have been particularly harmful, with the year's total nearing $310 million. Exit scams are also on a worrying uptrend, with a yearly total loss of nearly $147 million.
Top Incidents and Affected Platforms
CertiK's report lists KyberSwap as the top victim of flash loan attacks in November, losing just under $45 million. SAI Pro topped the list of exit scams with a single incident costing $751,000. The report also highlighted the top five incidents across categories, stressing the growing sophistication of these attacks.