September Broke Annual Records in Terms of Damage from Hacks: Report

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In September, CertiK analysts estimated that attackers had stolen a total of $329.8 million, making it the highest monthly volume in 2023.

The most significant reported damages came from exit scams at $1.9 million, instant loan attacks at $0.4 million, and phishing at $25 million.

The most substantial contribution to the overall figure was attributed to the hack of the cross-chain protocol Mixin, resulting in a loss of $200 million.

Other notable incidents included a loss of $53 million from the CoinEx exchange and $41 million from the crypto casino Stake.com.

When taking into account the entirety of September, the total damage to the crypto industry since the start of the year reached $1.34 billion, with majority of the losses from hacks amounting to $925.4 million.

It is worth mentioning that in the third quarter alone, reported losses from attacks and scams amounted to $889 million, according to Beosin.

Louis Adams https://www.satoshihodler.com

I am an experienced crypto news writer. I have been in the industry for many years and believe this tech can bring financial freedom to everyone.