Crypto Hacks And Exploits Snatch Over $300M In Q2 2023 – Report States
Blockchain security company, Certik, has compiled a report showing the value of cryptocurrencies lost in hacks and exploits during the second quarter of the year. According to the report, hackers stole $313 million through different kinds of scams and malicious exploits.
By Anna B Kiwanuka
Certik, a leading blockchain security company, has released a comprehensive report on the extent of cryptocurrency losses resulting from hacks and exploits in the second quarter of this year. The report reveals that hackers successfully pilfered a staggering $313 million through various scams and malicious exploits during this period.
While the total amount lost remains relatively consistent compared to the first quarter’s figure of $320 million, it represents a significant decrease from the corresponding quarter in 2022 when losses reached a staggering $745 million.
The report highlights a total of 212 security incidents that occurred in the second quarter, with exit scams accounting for a substantial portion of the losses at $70 million. This figure is nearly double the amount reported in the previous quarter, which stood at $31 million.
Examining specific blockchain networks, BNB Chain experienced the highest number of security violations, surpassing 100 incidents and resulting in losses amounting to $71 million. Ethereum, another prominent blockchain platform, encountered 55 incidents that led to a financial loss of $66 million. In contrast, Polygon recorded four cases of security breaches, causing losses of approximately $2.4 million.
Certik’s report underscores the ongoing need for robust security measures within the cryptocurrency ecosystem. As the sector continues to evolve, it is imperative for industry participants to remain vigilant in safeguarding their digital assets and strengthening security protocols to combat the growing threat of cybercriminals.