In a surge of cybercrime, digital assets totaling over $343 million were pilfered from both centralized and decentralized exchanges in November, marking the highest monthly loss in 2023, states a report by Immunefi.
The centralization of exchanges contributed to 53.8% of the losses, while decentralized platforms accounted for the remaining share. Notable breaches targeted platforms such as Poloniex, HTX Exchange, Kronos Research, and Kyber Network.
This alarming spike brings the total losses for the year to $1,753,707,812, emphasizing the persistent vulnerability of digital asset platforms. Hacks were the primary culprit, contributing $335,574,150 to the November losses, underscoring the need for robust security measures. The BNB Chain and Ethereum bore the brunt, representing a staggering 83% of the total losses across targeted chains.
Immunefi’s report delves into the specifics, revealing that BNB Chain endured 22 individual attacks, constituting 53.7% of the total losses. Ethereum faced 12 incidents, contributing 29.3% to the losses. Arbtrum, with three attacks, accounted for 7.3%, while Optimism, Avalanche, Fantom, and Heco Chain each experienced one attack.
The data portrays a concerning landscape, urging the cryptocurrency community to fortify its defense mechanisms against rising cyber threats. Earlier this year, cybersecurity firm Recorded Future shed light on the concerning rise of cyber threats, revealing that North Korean hackers had successfully pilfered approximately $3 billion in cryptocurrency since 2017, with over half of that staggering sum taken in the past year alone.