Apart from the bullish rally in the cryptocurrency market in January, there has been more positive news in the sector, as there was a sharp drop in losses from exploits in the month compared to the same period last year.
According to data from the blockchain security company PeckShield as of January 31, there were USD 8.8 million in losses from cryptocurrency exploits in January.
There were 24 exploits during the month; $2.6 million worth of cryptocurrency was sent to mixers like Tornado Cash. The breakdown of assets sent to mixers includes 1,200 Ether (ETH) and around 2,668 BNB (BNB).
The January numbers are 92.7% lower than the $121.4 million lost to exploits in January 2022.
#PeckShieldAlert ~24 exploits grabbed $8.8M in January 2023.
As of January 31st, 2023, ~$2.6M worth of stolen funds (~2,668 $BNB &1,200 $ETH) were transferred into Mixers (TornadoCash, Fixedfloat, and sideshift[.]ai). pic.twitter.com/KlGmDmKFbI— PeckShieldAlert (@PeckShieldAlert) January 31, 2023
#PeckShieldAlert ~24 exploits took USD 8.8 million in January 2023. As of January 31, 2023, ~USD 2.6 million in stolen funds (~2,668 $BNB & 1,200 $ETH) were transferred to mixers (TornadoCash, Fixedfloat, and sideshift[.]ai). pic.twitter.com/KlGmDmKFbI
PeckShield reported that the biggest exploit last month, accounting for 68% of the total, was a Jan. 12 attack on LendHub that drained $6 million from the decentralized financial lending platform.
Other notable attacks this month included Thoreum Finance, which lost $580,000, and Midas Capital, which suffered a $650,000 flash loan attack..
The January figure is also 68% lower than December 2022, which saw almost $27.3 million in losses from exploits.according to PeckShield.
Other losses not included in the data include a $2.6 million rug-pull of the FCS BNB Chain tokenaccording to DeFiYield’s Rekt database. Another USD 150,000 was lost to fake BONK tokens, and USD 200,000 on the Doglands Metaverse gaming platformaccording to DeFiYield.
A phishing attack against the GMX decentralized trading protocol on January 4 also caused a victim to lose up to $4 million..
Despite the relatively quiet month, blockchain security company CertiK told Cointelegraph in early January that there is unlikely to be a slowdown in attacks and exploits this year..
The firm also reported that the $62 million in cryptocurrency stolen in December was the “lowest monthly number” in 2022.
At the end of last year, the top ten exploits of 2022 resulted in $2.1 billion stolen in crypto protocols..
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