Digital assets worth over $332 million were taken from trading platforms in September using techniques like flash loan attacks, exit scams, and exploits. Digital assets that were stolen through exploits increased in value from $13.5 million in August to about $330 million in September.
The Mixin Kernel Incident Was September's Most Important Exploit
The cybersecurity company Certik estimates that in only the month of September, digital assets worth over $332 million were stolen via code flaws, exit scams, and flash attacks. More than 98% of the thefts (or $329.8 million) were the result of exploits, whereas less than $2.4 million was taken through flash loan attacks and rug pulls.
According to the data, Mixin Network's $200 million exploit on September 23 was the greatest occurrence of the month. The Mixin network team has since requested that the attackers accept a bug bounty and restore the remaining user monies, according to Bitcoin.com News.
A few weeks ago, an exploit led to the theft of digital assets worth $54 million from the cryptocurrency exchange site Coinex Global. Initial investigations, according to sources, suggested a potential compromise of private keys that allowed the thieves to transfer money from the platform's hot wallets. To put things in perspective, just $13.5 million worth of digital assets were stolen via exploits in August.
In contrast, only $1.9 million worth of digital assets were lost through exit scams in September, down from $26 million in August (more than half of the approximately $46 million that was taken). The data also shows a sharp decline in the value of digital assets lost as a result of the so-called flash loan attacks, from $6.4 million in August to $0.4 million in September.
According to data from the cybersecurity company, more than $1.3 billion has been stolen from digital asset platforms since the year's beginning. This amount was just under $1 billion in August.
What do you think about this story? Comment below with your thoughts and let us know what you think.