The latest Beosin report states that the crypto industry lost almost $900 million in three months. Only $208 million of the stolen funds came from the Lazarus Group.
Beosin, a leading cybersecurity company, published report, according to which the total damage from hacks, phishing attacks and rag pools in Web3 reached $889.26 million in the third quarter of 2023.
Final losses in the third quarter of 2023. Source: beosin.com
The report notes that losses for the last quarter exceeded the total losses for the first half of the year. In the first quarter, the crypto industry lost about $330 million, in the second – $333 million.
The most vulnerable types of projects
More often than not, hackers target DeFi. Over the past three months, attackers have carried out 29 attacks on this sector, which accounted for 64% of the total number of incidents and led to losses of $98 million.
Public blockchains suffered the biggest losses among projects. According to the report, this is due to the hacking of the Mixin Network, from which $200 million was stolen. This incident accounted for 37% of all losses in the last quarter.
The third largest are payment systems. Only two incidents were recorded: hacking Alpaho and Coinspaid. In total, the hackers stole $97 million worth of cryptocurrency from the sites.
Number of losses of different types of projects. Source: beosin.com
How much have blockchains lost?
Most often, Ethereum was under attack. Attackers attacked the blockchain 16 times and stole $227 million. Mixin Network came in second place.
Number of blockchain losses. Source: beosin.com
The most common types of attacks
The third quarter saw nine incidents involving the compromise of private keys. As a result of leaks, losses reached $223 million. Then there are losses due to attacks on cloud databases ($200 million) and contract vulnerabilities ($93 million).
So what about Lazarus Group?
The report states that North Korean hackers have been very active in the past three months. Beosin admits that they pose the greatest threat to Web3 security.
According to a Coinspaid investigation, the group spent six months trying to penetrate the project’s systems and find vulnerabilities using social engineering, DDoS attacks and phishing.
Recently it also became known that the Lazarus Group stores $47 million in crypto on 295 wallets.
Source: Cryptocurrency
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