A recent report by web3 security firm CertiK shows that crypto users lost a combined $28 million to various exploits, hacks, and scams in January 2023.
Exit scams and flash loan attacks
DeFi protocols and individual wallets were the main targets, resulting in the loss of $26.9 million in reported incidents. The DeFi lender LendHub was the biggest victim, losing $5.4 million in a hack on January 12th. Another individual targeted was Bitcoin Core developer Luke Dashjir who lost 216 bitcoins valued at $3.5 million.
Exit scams were also on the rise in January, with a total loss of $10.2 million. FUT, Yield Robot, First Free Finance, and PICC were among the scammers that stole over $6 million from investors. The biggest flash loan attack victim was the BRA token, losing $237,000 on January 10th. In total, the crypto sector lost approximately $762,000 to flash loan attacks.
This report by CertiK highlights the need for increased security measures in the crypto industry. The growing number of exit scams and attacks on DeFi protocols and individual wallets show that crypto users must be more cautious and educate themselves about the risks involved.
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