Cybersecurity Incidents in November 2023 Result in $343 Million in Damages

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Cybersecurity platform ImmuneFi has released a report on the cybersecurity incidents of November 2023, revealing staggering losses due to hacks and scam projects.


Key Insights from the Report:

Total Damage: In November, the damage from hacks and scam projects totaled $343 million.


  • CeFi Sector Hit Hard: Over half of these losses, amounting to $184 million or more than 53%, were in the CeFi sector.

  • An Unfortunate Record: November set a new record for the highest amount of damages in 2023, with a 15.4-fold increase compared to October ($343 million vs. $22.19 million).

  • Major Incidents: The sector witnessed five major hacks – Poloniex, Heco Chain, KyberSwap, HTX, and Kronos Research, each extensively reported earlier.

  • Blockchain Ecosystems Targeted: The BNB Chain faced the most attacks (22), followed by Ethereum (12), accounting for over 83% of the total losses.

  • Scams vs. Hacks: Scam projects represented only 2.2% of the total damages, with the rest attributed to hacks.

  • Yearly Overview: Since the beginning of 2023, cryptocurrency projects have lost $1.75 billion to cybersecurity-related incidents, with ImmuneFi documenting 296 such cases.

  • Monthly Analysis: The highest losses occurred in March, July, September, and November, with the least in January (just over $21 million).


Conclusion:

The report from ImmuneFi underscores the significant impact of cybersecurity threats in the cryptocurrency domain, highlighting the urgent need for enhanced security measures across various sectors and blockchain ecosystems.


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