According to a report shared by blockchain security firm CertiK, malicious actors targeting the crypto space seized over $45 million worth of crypto assets in just August, and a total of $997 million worth of crypto assets since the beginning of the year. Although the losses in August were lower compared to the $486 million loss recorded by Web3 data analysis platform De.Fi in July, the Multichain exploit significantly contributed to these losses, and Multichain announced the suspension of its operations on July 14.
Significant Decrease in Losses
The report highlights that CertiK seized approximately $26 million from victims through the exit scam method, $6.4 million from flash loan attacks, and $13.5 million from exploitation methods in August 2023. The cybersecurity firm confirmed that the total losses exceeded $45 million.
CertiK stated that some of the significant events contributing to the amount lost were the Zunami Protocol attack, which resulted in a $2.2 million loss; the Exactly Protocol exploitation, worth $7.3 million; and the PEPE token rug-pull event, which caused a $13.2 million loss.
According to CertiK, over $997 million has been lost due to exploitations, hacks, and scams in 2023. This figure includes approximately $261 million lost due to flash loan attacks, $137 million lost due to rug-pull scams, and $596 million lost due to exploitations.
Multichain Losses Draw Attention
Although the losses in August were high, they were significantly lower compared to the losses in the previous month. In July 2023, Web3 data analysis platform De.Fi recorded approximately $486 million in total losses, with the Multichain exploit contributing around $231 million to the total amount lost.
Multichain officially announced the suspension of its operations on July 14, citing a lack of funding for operations and a lack of alternative sources of information as the reasons for the protocol’s closure. According to the team, they are unable to contact the CEO as he has been detained by Chinese authorities.
