Loss of $173 million in crypto so far in November: Report
New Delhi (Uttam Hindu News): Cryptocurrencies have lost $173 million so far in the month of November, with two events accounting for 91 percent of the loss. According to blockchain and smart contract security company Certic, November has already recorded the fourth-largest monthly loss in 2023. The surge was driven by the recent hack of cryptocurrency exchange Poloniex. Hackers have stolen more than $114 million from Poloniex after cybercriminals compromised its hot wallet.
Arkham data revealed that an Ethereum wallet, now tagged as the “Polonix hacker,” moved a total of $114 million worth of tokens from Poloniex in 357 transactions. “Losses so far in November have reached $173 million, with two events accounting for 91 percent of losses,” Certic Alert posted on Twitter. “November already has the fourth-highest deficit of any month this year,” it said.
The security firm also reported that the phishing scheme caused a loss of approximately $27 million. Meanwhile, more than $7 billion in cryptocurrencies have been illicitly laundered through cross-chain crime, with North Korea’s Lazarus Group linked to the theft of nearly $900 million between July 2022 and July this year . According to blockchain analytics firm Elliptic, decentralized exchanges (DEXs), cross-chain bridges, and coin swap services have processed $7 billion of illicit funds.
