Exploits, hacks and scams stole almost $1B in 2023: Report

Cybersecurity firm CertiK reported that as of August, over $997 million was lost to flash loan attacks, exit scams and exploits in 2023.

Malicious actors targeting the crypto space have taken more than $45 million in digital assets from their victims in the month of August alone and a total of $997 million year-to-date (YTD),

according to a report shared by the blockchain security firm CertiK.

In the report, CertiK that exit scams took around $26 million, flash loan attacks took $6.4

million and exploits took $13.5 million from their victims in August 2023. The cybersecurity firm confirmed that the total losses amounted to over $45 million.

CertiK pointed out that some of the major incidents that contributed to the

amount lost include the Zunami Protocol attack, which led to $2.2 million in losses; the Exactly Protocol exploit, which took $7.3 million; and the PEPE
PEPE

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withdrawal incident, which led to $13.2 million in losses.

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According to CertiK, more than $997 million has been lost to exploits, hacks and

scams in 2023 so far. This includes around $261 million lost to flash loan attacks, over $137 million lost to exit scams and more than $596 million lost to exploits.

While the losses in August are still high, the amount is significantly lower

compared to the losses incurred in the previous month. In July 2023, around $486 million in total losses

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were recorded by Web3 data outlet De.Fi, with the Multichain exploit alone contributing around $231 million to the total amount lost.

With various factors at play, Multichain officially announced the halting

of its operations on July 14. The team cited a lack of funding for operations and a lack of alternative sources of

information as the reasons for its shutdown. According to the team,

it was unable to contact the CEO since he was taken into custody by Chinese authorities.