Threat actors have stolen over $750,000,000 worth of crypto across 150+ incidents in Q3. This represents a 9.5% rise in the value that was lost, despite there being 27 less incidents than Q2.
Phishing Attacks and compromises of private keys contributed significantly to the thefts in Q3 totaling over 750 millions dollars. data From Blockchain Analytics Firm CertiK. The total amount of losses increased 9.5% from the last quarter despite a decrease in the number of incidents.
CertiK estimates that hackers are on track to steal nearly $2 billion alone in 2024. Data shows that $505.5 millions were lost in 224 incidents in Q1 while $687.50 million was stolen in Q2. In Q3, the most common attack vector was phishing, which resulted in $343.1m being stolen from 65 incidents.
“These attacks typically involve bad actors posing as legitimate entities to trick users into revealing sensitive information, such as login credentials.”
CertiK
In 10 separate incidents, private key compromises were the most expensive vector of attack. $324.4 Million was stolen. These two attack vectors together accounted for $668 in losses. Additional security incidents during Q3 included code vulnerabilities, price manipulation and reentrancy.
CertiK explains that Ethereum (ETHBitcoin () was the second most-targeted blockchain with 387,9 millions stolen from 86 incidents.BTCThe crypto industry must prioritize user education and advanced security measures to protect assets. Blockchain firm warns that hackers are constantly evolving their methods and the industry needs to prioritize education of users as well as advanced security measures in order to protect its assets.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: crypto.news
