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Promote with Leviathan NewsBlockchain security firm Immunefi reported that crypto hacks and fraud led to about $343 million in losses in November 2023, the highest monthly total that year and roughly a 15‑fold increase over October. Centralized finance (CeFi) platforms were the main driver of the spike, accounting for about 53–54% of total losses (around $184 million), largely due to major incidents at exchanges and trading firms including Poloniex, HTX (formerly Huobi), and Kronos Research. According to the report, hacking rather than fraud dominated the damage, with roughly $335.5 million (about 98% of the total) attributed to hacks and only about $7.5 million to fraud schemes. Immunefi’s November data underscores a shift in risk concentration toward centralized platforms even as decentralized finance (DeFi) remains an ongoing target. By blockchain, BNB Chain suffered the largest share of value lost, with 22 incidents representing about 54% of November’s hacked funds, followed by Ethereum with 12 incidents and about 29% of losses. Cumulatively, Immunefi estimated that crypto users had lost around $1.75 billion to hacks and scams in 2023 up to that point, highlighting both the scale of security weaknesses in major infrastructure and the importance of operational security at centralized venues that many retail and institutional users rely on.
AI-generated background, compiled from web sources — not editorial content.
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