Bitcoin industry loses $343 million in November to hacks and scams

So far this year, the crypto industry has recorded 296 hacks and scams, with November losses from such incidents topping $343 million. It is the highest monthly figure since the start of the year, according to a report by Immunefi.

Compared with October, the figure jumped 15.4-fold. Total losses in 2023 have already reached $1.75 billion.

The main attack vector in November was the CeFi sector, accounting for 53.8% of total losses. The rise relative to DeFi was mainly driven by hacks of centralized platforms Poloniex, HTX and Kronos Research.

Hacker attacks led to losses of more than $335.5 million for the month (97.8% of the total), while fraud accounted for only about $7.5 million (2.2%).

By blockchain, BNB Chain led with 22 incidents and 53.7% of losses. The corresponding figures for Ethereum were 12 and 29.3%.

As reported in the third quarter, losses of the Web3 ecosystem from hacks and scams amounted to $685.5 million.