Ethereum

Multichain

Mixin

<div class="coinjournal"> 
 Key takeaways 
 <ul> 
 <li dir="ltr"> The number of crypto hacks and scams surged by 153% in the third quarter of the year. </li> 
 <li dir="ltr"> Nearly $700 million was lost to hacks and scams in the last quarter. </li> 
 </ul> 
 <h2 dir="ltr" id="crypto-investors-lost-nearly-700-million-to-hacks-and-scams">Crypto investors lost nearly $700 million to hacks and scams</h2> 
 Blockchain security platform Immunefi&nbsp;published its quarterly industry security report for the third quarter of 2023. 
 Per the <a rel="noopener noreferrer nofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a>, crypto and web3 projects recorded a 153% increase in attacks in the quarter that ended September, compared to the same period in 2022. In Q3 2022, there were 30 crypto <a rel="noopener noreferrer nofollow" title="hacks" href="https://thebittimes.com/tag/hacks.html">hacks</a> and <a rel="noopener noreferrer nofollow" title="scams" href="https://thebittimes.com/tag/scams.html">scams</a>.&nbsp; 
 However, this figure grew to 76 in the third quarter of 2023, with nearly $686 million lost in the process.&nbsp; 
 The Mixin hack that took place on September 25 was the most notable, with the attackers stealing roughly $200 million from the platform. Multichain also suffered an attack in the third quarter of the year, resulting in over $126 million in losses that are yet to be recovered. The attack resulted in&nbsp;Multichain ceasing operations in July.&nbsp; 
 <h2 dir="ltr" id="lazarus-group-leads-the-way-in-crypto-theft">Lazarus Group leads the way in crypto theft</h2> 
 The Lazarus Group was the most popular attacker in Q3 2023, as it stole over $208 million worth of cryptocurrencies via multiple attacks. The group&nbsp;attacked centralised services CoinEx, Alphapo, Stake, and Coinspaid and was responsible for &nbsp;30% of all stolen crypto in the previous quarter.&nbsp; 
 Immunefi reported that only a small portion of attacks in the last quarter were rug pulls and other scams. Around $23 million was lost to rug pulls and other scams, accounting for only 3.3% of total losses. The report highlighted that funds lost via rug pulls and scams decreased by 23.9% compared to Q2 2022. 
 Decentralised finance (DeFi) protocols continue to be the target of hackers as they account for roughly 73% of total losses. Centralised services, meanwhile, accounted for around 27% of exploit losses.&nbsp; 
 Projects on the Ethereum and BNBChain blockchains remain the primary target of attackers. Ethereum projects accounted for 42.7% of the losses, while BNBChain recorded 30.6%. Q3 2023 is so far the worst quarter of the year in terms of crypto <a rel="noopener noreferrer nofollow" title="hacks" href="https://thebittimes.com/tag/hacks.html">hacks</a> and <a rel="noopener noreferrer nofollow" title="scams" href="https://thebittimes.com/tag/scams.html">scams</a>, the <a rel="noopener noreferrer nofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a> concluded.&nbsp; 
</div> 
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-hacks-and-scams-grew-by-over-150-in-q3-2023-immunefi-report-tbt65041.html">https://thebittimes.com/crypto-hacks-and-scams-grew-by-over-150-in-q3-2023-immunefi-report-tbt65041.html</a>

Crypto hacks and scams grew by over 150% in Q3 2023: Immunefi report

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