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• Crypto exploit losses in January saw nearly 93% year-on-year decline, amounting to $8.8 million.
• The largest exploit from last month was an attack against LendHub that drained $6 million from the decentralized finance platform.
• Other notable exploits for the month included Thoreum Finance and Midas Capital which lost $580,000 and $650,000 respectively.
Crypto Exploit Losses in January
January saw a steep decline in losses from crypto exploits compared to the same time last year. According to data from blockchain security firm PeckShield on Jan. 31, there were $8.8 million in losses from crypto exploits in January – a 92.7% decrease compared to the figures of January 2022 ($121.4 million).
Largest Exploit of Last Month
The largest exploit of last month was an attack against LendHub which drained approximately $6 million worth of crypto assets from the decentralized finance platform – representing 68% of the total amount lost due to exploits during this period.
Other Notable Exploits
Other notable exploits for the month included Thoreum Finance and Midas Capital which both fell victim to flash loan attacks, losing around $580,00 and $650,000 respectively.
Breakdown Of Assets Sent To Mixers
In addition to these major losses, various other amounts were sent to mixers such as Tornado Cash including 1,200 Ether (ETH) worth around $1,638 and 2,668 Binance Coin (BNB) worth approximately $518k.
Conclusion
Overall, while there was a bullish crypto market rally in January 2023 it is clear that there has also been more positive industry news with a significant drop in losses attributed to exploits compared with figures this time last year
