BNB Chain, Ethereum Blockchains Endure 20 Assaults in October, Taking the Hardest Hits: Report

In accordance with the newest report from Immunefi, from January to October 2023, over $1.41 billion has been misplaced to hacking and fraudulent actions in 292 particular incidents.

In October 2023 alone, losses amounted to roughly $22.2 million, primarily attributed to hacking and fraud. Essentially the most regularly focused blockchain networks throughout the interval had been BNB Chain and Ethereum, accounting for 83.3% of the overall losses amongst focused chains.

• Immunefi disclosed that BNB Chain skilled the best variety of particular person assaults, with 11 incidents, accounting for 45.8% of the general losses among the many focused chains.
• Ethereum, alternatively, skilled 9 incidents, representing 37.5% of the overall losses.
• Layer 1 blockchain, Avalanche trails behind with 2 incidents, representing 8.3% in October.
• Polygon and Fantom witnessed 1 incident every, representing 4.2% respectively.
• Hacking incidents continued to be the first trigger of economic losses, surpassing fraudulent actions which resulted in a complete lack of over $16.35 million for the month.

“In October 2023, hacks proceed to be the predominant reason behind losses as in comparison with frauds, scams, and rug pulls. An evaluation of the losses exhibits that fraud accounts for 26.32% of the overall losses in October 2023, whereas hacks account for 73.68%.”

• DeFi platforms continued to be the first focus of exploitation in October, representing 100% of the overall losses. Contrastingly, not a single main exploit was reported in CeFi platforms.
• Zooming out, Q3 in 2023 recorded the best losses, primarily pushed by over $340 million in September and greater than $320 million in July, the Web3 bug bounty platform mentioned in its report.
• An earlier report by blockchain safety agency, CertiK revealed that just about $332 million in numerous digital property had been misplaced to exploits, hacks, and scams in September.