More than $750 million was stolen in Crypto Last Quarter despite being hacked: CertiK

Cyber ​​security firm Certike said on Tuesday that while attacks in the crypto sector were on the decline in the last quarter, overall value theft increased significantly.

In the near future Web3 security report, Hackers were able to defraud $750 million in 155 instances, bringing the total losses for the year to nearly $2 billion, according to Certike.

It represents a 9.5% increase in lost value with 27 fewer cases compared to the previous quarter.

The report identified phishing and private key compromise as the most common attack partners, causing $668 million in losses. Phishing alone caused $343 million in damage in 65 incidents.

A notable case is Bitcoin Well, which suffered a $238 million loss in August, making it the single most significant phishing attack for Q3. The attack jeopardized the whale's purse, and while some money was recovered by the community, much of the stolen money remains unaccounted for.

Private key deals were responsible for nearly $317 million in losses in just 10 incidents. The most popular private key was under attack. Wazir XOne of India's leading crypto exchange.

In July, hackers exploited WazirX's private key vulnerabilities to steal $231 million from more than 200 cryptocurrencies, including Shiba Inu (SHIB), Ethereum (ETH), and Polygon (MATIC), making it one of the largest breaches in Q3.

Target on the back of Ethereum

Ethereum continues to be a major target of attacks, with $387.8 million stolen in 86 instances, far more than any other blockchain, according to a cyber security firm.

$89.8 million was stolen across multiple networks, and multichain hacks were also popular, highlighting the potential risks associated with cross-chain activity.

While phishing and private key compromise lead the quarter in terms of lost value, other popular attack methods include code vulnerabilities and re-entry.

Code vulnerabilities resulted in losses of $39.6 million in 44 cases, while hacking attacks – which allow hackers to repeatedly withdraw funds before the system updates balances – resulted in losses of $30.3 million in five cases.

The Q3 CertiK report showed that only 4.1% of stolen funds were recovered this quarter, a significant decrease compared to 14.4% recovered in Q2. Despite a few cases, the average loss per hack was $5.93 million, with an average loss of $120,529.

Immunefi, a bug bounty and security services platform, reported a significant drop in crypto-related losses in August. reported as if Decrypt.

The report found total losses in five cases were just $15 million, the lowest monthly total year-to-date and a 94.5 percent decrease from July.

Edited by Sebastian Sinclair.