November witnessed an upsurge in Web3 hacks and exploits as crypto hackers stole almost $350 million throughout 28 incidences, in accordance with blockchain safety agency Peckshield.
This marked the second-largest month for such occurrences this yr, behind the $356 million stolen in September however almost tenfold from October’s $32.47 million.
The cumulative losses from crypto exploits this yr have reached roughly $1.37 billion as of the tip of November.
Justin Solar tasks dominate
In November, roughly $236 million was illicitly transferred from tasks related to Justin Solar, specifically Poloniex, HTX, and Heco Bridge. These Solar-linked ventures collectively make up almost 70% of the entire funds stolen when it comes to financial worth throughout that interval.
For context, CryptoSlate reported two main compromises of a Solar-linked platform throughout the month. On Nov. 10, Poloniex, a crypto trade bought by the crypto entrepreneur in 2019, suffered a $100 million hack, with the attacker utilizing the stolen funds to pump Tron blockchain’s native TRX token.
Lower than two weeks after the Poloniex hack, Solar confirmed that HTX and Heco Bridge suffered an assault that misplaced customers’ funds. On the time, CryptoSlate reported that the tasks misplaced greater than $100 million.
Nevertheless, Solar has introduced plans to reward customers and canopy the losses they suffered from the exploits of his platforms.
Different hacks
Except for Solar’s mission losses, different crypto tasks that suffered main exploits throughout the month embrace KyberSwap, which was drained of round $55 million, and Taipei-based crypto buying and selling agency Kronos Analysis, which misplaced $26 million to unauthorized entry of its API keys.
Different tasks just like the decentralized trade dYdX, Raft Protocol, Onyx Protocol, and others cumulatively misplaced round $25 million mixed.
In the meantime, a single sufferer additionally misplaced $27 million price of Tether’s USDT to a phishing assault.