In November 2023, the cryptocurrency sector experienced its highest monthly losses of the year. As a result of hacking and fraudulent incidents, a loss of $343 million occurred. This figure is 15 times higher than the approximately $22 million loss recorded in October.
According to Immunefi’s report, since the beginning of the year, there have been 296 cryptocurrency hacking and rug-pull incidents resulting in losses exceeding $1.75 billion. In November, attacks on CeFi (Centralized Finance) platforms caused more losses than DeFi (Decentralized Finance) platforms and became the main target of hackers this month.
37 incidents in DeFi protocols accounted for 46.2% of the total loss, causing a loss of $158.6 million, while attacks on the CeFi sector, such as Poloniex, HTX, and Kronos Research, accounted for 53.8% of the total loss and represented a loss of $184.4 million. When compared with the third-quarter report, which shows that DeFi attacks accounted for 72.9% of the losses, this ratio presents a significantly different picture.
In November, where 18 incidents occurred, hack attacks constituted a larger portion of the losses caused by cryptocurrency attacks and resulted in losses exceeding $335 million. According to the Immunefi team, 23 fraudulent incidents caused a total loss of approximately $7.5 million.
BNB Chain and Ethereum ecosystems were the most targeted blockchain ecosystems in November, accounting for 83% of the total losses. BNB Chain was the most attacked ecosystem with 53.7%. The Ethereum ecosystem represented 29.3% of the funds lost due to hacking attacks, with 12 attacks. Other blockchains such as Arbitrum, Optimism, Avalanche, Fantom, and Heco Chain also appeared in the ranking of hack incidents.