2023-10-03 02:21:08
© Reuters. Crypto market loses R$3.4 billion to hacker attacks in the last quarter
Blockmarket – Scams involving cryptocurrencies resulted in significant losses in the third quarter of 2023 for the crypto market. According to a recent report by the company ImmuneFi, fraud in the sector has accumulated losses in excess of R$3.4 billion.
These attacks took place between July and September this year, which represents an increase of around 150% compared to the year 2022. The research shows that hacker invasions on crypto market platforms increased from 30 to 76 attacks during this period.
In other words, around R$1.3 billion more were lost in the invasions than in the third half of 2023, according to research by the blockchain security company. Among the worst attacks are the losses of the Mixin Network and Multichain platforms.
Crypto market loses cryptocurrencies
The third quarter of 2023 was the worst period for losses in the crypto market so far, considering the attacks in the first half. According to a statement from ImmuneFi CEO Mitchell Amador, this record was achieved thanks to large-scale hacks between July and September.
“The third quarter witnessed the biggest loss this year, driven by large-scale attacks such as those on Mixin Network and Multichain.”
Mixin Network alone lost more than R$1 billion in cryptocurrencies in the period analyzed by the research. Second on the list is the recent attack suffered by Multichain, which resulted in the stripping of R$627 million in digital assets such as the USDC stablecoin.
Hacker group blamed for the invasion
As the Multichain report points out, most of the attacks targeting the crypto market were orchestrated by a North Korean hacker group, known as Lazarus.
Therefore, Mitchell Amador concluded that the large-scale invasions were supported by the North Korean state. He says that the Lazarus Group is sponsored by North Korea.
“State-backed attackers played a crucial role as they were allegedly behind several cases this quarter.”
In addition to the crypto market, Brazil leads the list of hacker attacks among Latin American countries. On the other hand, a report from Trend Micro points out that, in the first quarter alone, 85.6 billion invasions took place around the world, with Brazil being the second most vulnerable country to this type of incursion, behind only the United States. .
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