Q3 2023 Marks Crypto’s Worst Financial Quarter
The third quarter of 2023 has been dubbed the “most financially damaging” quarter for the crypto industry, with nearly $700 million lost in various security incidents, according to CertiK’s quarterly report.
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The report detailed 184 security incidents, surpassing Q1 and Q2 losses of $320 million and $313 million, respectively.
Private key compromises were the most damaging, accounting for $204 million in losses across 14 incidents. Exit scams and oracle manipulations were also prevalent, causing losses of $55 million and $16 million, respectively.
North Korea's Lazarus group continued to be a significant threat, responsible for $291 million in confirmed losses this year.
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