Certik: Malicious Actors Stole $753 Million in Q3, Phishing Top Attack Vector

CN
4 hours ago

Certik’s latest report reveals that malicious actors stole digital assets worth $753 million in 155 security incidents during the third quarter. Although the security incidents were 27 fewer, the value of stolen digital assets increased by 9.5%. The Q3 losses bring the total value of digital assets stolen by cybercriminals in 2024 to approximately $2 billion.

While Web3 players continue to strengthen their security systems, the Certik report asserts that the rising loss level indicates hackers are becoming more sophisticated. Phishing was identified as the most costly attack vector in the quarter, with $343,099,650 stolen in 65 incidents.

Commenting on this attack vector and prevention measures that Web3 platforms can take, the Certik report said:

These attacks typically involve bad actors posing as legitimate entities to trick users into revealing sensitive information, such as login credentials. To prevent falling victim to these attacks, users should be wary of unsolicited messages asking for private information, double-check website URLs and email addresses, and enable two-factor authentication (2FA).

Private key compromises were the next most costly vector, with $324.4 million lost in just 10 incidents. Across the remaining top ten attacks, losses ranged from $39.6 million due to code vulnerability exploits to approximately $175,000 lost after hackers breached access controls.

When assessing losses by chain, the report data indicates the Ethereum network accounted for just over half of the total losses, with $387.8 million siphoned in 86 incidents. The Bitcoin network accounted for the next highest value loss of approximately $238 million.

Meanwhile, the report indicates that out of the digital assets lost during the period, the total dollar value of funds returned was $30.9 million, bringing the adjusted total losses to $722 million.

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