BNB and Ethereum Blockchains Suffer 20 Attacks in October, Receiving the Hardest Hits: Report

According to Immunefi’s latest report, from January to October 2023, more than $1.41 billion was lost due to hacking and fraudulent activities in 292 specific incidents.

In October 2023 alone, losses amounted to approximately $22.2 million, mainly attributed to hacking and fraud. The most frequently attacked blockchain networks during the period were BNB Chain and ethereum, which accounted for 83.3% of the total losses among the attacked chains.

• immunophy revealed that BNB Chain experienced the highest number of individual attacks, with 11 incidents, representing 45.8% of the total losses among the targeted chains.
• ethereum, for its part, experienced 9 incidents, representing 37.5% of the total losses.
• Layer 1 blockchain Avalanche lags behind with 2 incidents, representing 8.3% in October.
• Polygon and Fantom witnessed 1 incident each, representing 4.2% respectively.
• Hacking incidents continued to be the leading cause of financial loss, surpassing fraudulent activities that resulted in a total loss of more than $16.35 million for the month.

“In October 2023, hacks will still be the predominant cause of loss compared to fraud, scams and pulls. An analysis of losses shows that fraud represents 26.32% of total losses in October 2023, while hacks represent 73.68%.

• DeFi platforms continued to be the main focus of exploitation in October, accounting for 100% of total losses. In contrast, no major exploits were reported on CeFi platforms.
• Zooming out, the third quarter of 2023 saw the largest losses, driven primarily by more than $340 million in September and more than $320 million in July, bug bounty platform Web3 said in its report.
• A previous report from blockchain security firm CertiK revealed that nearly $332 million in various digital assets had been lost in September due to exploits, hacks, and scams.

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