Hackread reports that organizations in the cryptocurrency sector recorded more than $1.48 billion in losses from cyberattacks and rug pull operations between January and November, which is 15% lower than the same period last year.
Hack and rug pull-related losses in the crypto industry last month also declined 79% year-over-year to $71 million, all of which have been attributed to the decentralized finance sector, particularly Thala and DEXX that have lost more than $20 million each in separate attacks last month, according to an analysis from Immunefi. Additional findings revealed that most of the losses were from direct hacks, while BNB Chain became the most prevalently targeted blockchain network last month, followed by Ethereum, which had been primarily attacked by threat actors. Despite shrinking losses, cryptocurrency and blockchain organizations have been urged to be continuously vigilant of attacks as malicious actors increasingly proceed to compromise the BNB Chain.
