According to blockchain security firm CertiK, November has seen a worrying spike in crypto hacks and theft, with losses reaching approximately $173 million so far. This figure represents the fourth-highest monthly total for 2023.
The biggest hack was the theft of over $131 million worth of assets from cryptocurrency exchange Poloniex, where hackers managed to compromise the exchange’s hot wallet and make an unauthorized withdrawal of funds.
Poloniex has said they are working with law enforcement and have offered a 5% bounty as an incentive to return the stolen assets. In another significant scam, CertiK reports that a phishing scheme targeting crypto users resulted in losses of around $27 million.
Comparatively, October saw substantially lower losses from hacks and fraud in the sector, at approximately $32 million. The recent spike in successful attacks highlights the growing risks for exchanges and the need for improved safeguards.