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<a href="https://bitcoinworld.co.in/most-crypto-hacks-in-november-have-justin-suns-platforms-at-the-center/" title="Most Crypto Hacks in November Have Justin Sun’s Platforms At The Center" rel="noopener noreferrer nofollow"></a>
November witnessed an upsurge in crypto hacks and exploits as crypto hackers stole nearly $350 million across 28 incidents, according to blockchain security <a href="https://twitter.com/PeckShieldAlert/status/1730400036247519351/photo/1" rel="noopener noreferrer nofollow">firm</a> Peckshield. However, most of these hacks have Justin Sun at the center.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#PeckShieldAlert</a> November saw a upsurge in Web3 hacks &amp; exploits compared to the previous month, totaling ~$348.11M across 28 incidents.
 -2 high-profile attacks targeted <a href="https://twitter.com/hashtag/Justinsun?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Justinsun</a>-linked projects, draining $236 million worth of cryptos from <a href="https://twitter.com/hashtag/Poloniex?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Poloniex</a> and <a href="https://twitter.com/hashtag/HECOBridge?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#HECOBridge</a> &amp; HTX… <a href="https://t.co/L9m3JbrL6p" rel="noopener noreferrer nofollow">pic.twitter.com/L9m3JbrL6p</a>
 — PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1730400036247519351?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 1, 2023</a>
</blockquote>
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This makes November the second month with the largest of such crypto hack occurrences this year. The first was the $356 million stolen in September, which was nearly tenfold the crypto hack in October, which was worth $32.47 Million.
The cumulative losses from crypto exploits this year have reached approximately $1.37 billion as of the end of November.
<h3 id="span-style-font-weight-400-justin-sun-s-platforms-at-the-center-span">Justin Sun’s Platforms At The Center</h3>
In November, approximately $236 million was illicitly transferred from projects associated with Justin Sun, namely Poloniex, HTX, and Heco Bridge.&nbsp;
These Sun-linked projects collectively make up nearly 70% of the total funds stolen in terms of monetary value during that period.
For context, CryptoSlate reported two major compromises of a Sun-linked platform during the month. On Nov. 10, Poloniex, a crypto exchange purchased by the crypto entrepreneur in 2019, suffered a $100 million hack, with the attacker using the stolen funds to pump Tron blockchain’s native TRX token.
Less than two weeks after the Poloniex hack, Sun <a href="https://bitcoinworld.co.in/justin-sun-announces-airdrop-for-htx-and-poloniex-users-following-hack/" rel="noopener noreferrer nofollow">confirmed</a> that HTX and Heco Bridge suffered an attack that lost users’ funds. At the time, CryptoSlate reported that the projects lost more than $100 million.
However, Sun has announced plans to reward users and cover the losses they suffered from the exploits of his platforms.
Read Also: <a class="row-title" href="https://bitcoinworld.co.in/circle-denies-ties-with-justin-sun-involvement-in-terrorism-financing/" aria-label="“Circle Denies Ties With Justin Sun, Involvement In Terrorism Financing” (Edit)" rel="noopener noreferrer nofollow">Circle Denies Ties With Justin Sun, Involvement In Terrorism Financing</a>
<h3 id="span-style-font-weight-400-other-hacks-span">Other Hacks</h3>
Aside from Sun’s project losses, other crypto projects that suffered major exploits during the month include KyberSwap, which was drained of around $55 million, and Taipei-based crypto trading firm Kronos Research, which lost $26 million to unauthorized access of its API keys.
Other projects like the decentralized exchange <a href="https://bitcoinworld.co.in/dydx-chain-launches-trading-rewards-program/" rel="noopener noreferrer nofollow">dYdX</a>, Raft Protocol, Onyx Protocol, and others cumulatively lost around $25 million combined.
Meanwhile, a single victim also lost $27 million worth of Tether’s USDT to a phishing attack.
The post <a href="https://bitcoinworld.co.in/most-crypto-hacks-in-november-have-justin-suns-platforms-at-the-center/" rel="noopener noreferrer nofollow">Most Crypto Hacks in November Have Justin Sun’s Platforms At The Center</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Most Crypto Hacks in November Have Justin Sun’s Platforms At The Center

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