According to the quarterly report of blockchain security company CertiK, the third quarter of 2023 was the “most financially damaging” quarter of the year, with various security incidents leading to nearly US$700 million in digital asset losses.
In the report, CertiK highlighted 184 security incidents that occurred in July, August, and September 2023, with crypto asset losses exceeding $699 million in the quarter, exceeding the $320 million loss in the first quarter and the $313 million in the second quarter. Loss.
Among the vulnerabilities that resulted in losses, private key leakage was ranked as the most damaging, with 14 incidents causing more than $204 million in losses. According to the report, the multi-chain incident (private keys were exclusively controlled by the project executive) resulted in $125 million in losses. The incident highlights that centralized control of an enterprise’s private keys can lead to vulnerabilities that, in Multichain’s case, halted its operations.
In addition to private key vulnerabilities, exit scams and oracle manipulation are also prevalent this season. The report highlights that a total of 93 exit scams occurred this quarter, resulting in the loss of more than $55 million in digital assets. Meanwhile, $16 million worth of cryptocurrency was lost in 38 incidents of oracle manipulation.
related: Exploits, hacks and scams stole nearly $1 billion in 2023, report says
As far as cryptocurrency hacking attacks are concerned, the utilization of the cross-chain protocol Mixin Network is indispensable, making September the most serious month for cryptocurrency vulnerability exploitation in 2023. On September 25, Mixin Network suspended all withdrawals and deposits following the incident. The company later confirmed that $200 million worth of assets had been drained from its mainnet.
CertiK’s quarterly report also highlighted that the North Korean state-affiliated hacker group Lazarus remained the “primary threat actor” this season. The report noted that the group recognized losses of at least $291 million in 2023 and continued activities in the third quarter.
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