CertiK analysts said that in the third quarter of the year, attackers stole $753 million worth of cryptocurrency in 155 hacker attacks. This is 9.5% more than the volume of assets lost in the second quarter, although then the number of incidents was 27 fewer.

CertiK experts noted that cybersecurity remains a critical issue for crypto projects as hackers have begun to use increasingly sophisticated attacks. Since the beginning of the year, hackers have stolen nearly $2 billion in crypto assets. Phishing was the most profitable attack vector in the third quarter, with $343 million stolen in 65 incidents. In addition to phishing, attackers used compromised private keys, code vulnerabilities, and so-called reentry attacks.

Ethereum continues to be a favorite target for hackers, with criminals stealing $387.8 million from projects based on the network in 86 incidents, which is significantly higher than Bitcoin. Projects based on the blockchain of the first cryptocurrency also suffered numerous attacks. In addition, the attackers deprived users of $89.8 million during hacks that were aimed at other blockchains.

“Hacks are still a threat to the crypto market. As the industry evolves, so do the tactics of attackers who attack centralized and decentralized platforms. The decrease in the number of hacks this quarter is encouraging, but the increase in the total volume of stolen assets suggests that crypto projects must implement more sophisticated security measures,” concluded CertiK analysts.

In March, Certik researchers warned of a sharp rise in private key thefts. In just a few days, user losses amounted to $22.96 million, and in isolated cases, losses of crypto assets even exceeded $1 million.