Digital Assets Valued at $343M Stolen from Crypto Exchanges in November

December 20, 2023 1:44 PM
Digital Assets Valued at $343M Stolen from Crypto Exchanges in November

In November, the theft of digital assets from various platforms amounted to approximately $343 million. Centralized exchanges accounted for 53.8% of the total losses, while decentralized exchanges bore the remainder. The attacks targeting BNB Chain and Ethereum constituted 83% of the overall losses across the focused chains.

Record-Breaking Monthly Losses

A recent report from Immunefi revealed that November witnessed the highest monthly loss in digital assets this year, totaling $343,038,810. This figure encompasses assets pilfered through both hacks and fraudulent means. By comparison, similar incidents accounted for almost $22.2 million, marking a 15.4% decrease.

This marks the third instance in 2023 where losses in digital asset platforms surpassed $300 million, following July ($320.5 million) and September ($340.4 million). January recorded the lowest loss of $21 million this year.

Total Losses for 2023

Immunefi's November report places the cumulative digital asset losses for 2023 at $1,753,707,812. Centralized exchanges accounted for 53.8% of these losses, while decentralized platforms covered the remaining share. High-profile breaches in November included attacks on Poloniex, HTX Exchange, Kronos Research, and Kyber Network.

Majority of Attacks on BNB Chain and Ethereum

Hacks were the primary contributor to the digital asset losses in November 2023, accounting for $335,574,150. The report emphasizes BNB Chain and Ethereum as the most targeted chains, representing over half of the total losses (83%) among the focused chains.

Immunefi's findings highlight that BNB Chain witnessed 22 individual attacks, constituting 53.7% of the total losses. Ethereum experienced 12 incidents, accounting for 29.3% of the total losses. Attacks on Arbtrum represented 7.3% of the losses with three instances, while Optimism, Avalanche, Fantom, and Heco Chain each suffered one attack.