Blockchain security firm CertiK recorded a low in losses for the year in October thanks to an unusually low number of incidents.
There is no clear downward trend in crypto crime, but a quiet month is undoubtedly more than welcome in the Web3 community.Web3 theft hit a low point for the year so far in October, CertiK reported. Losses to hacks, exploits and scams confirmed by the blockchain security firm amounted to $32.2 million for the month across 38 incidents, with no single incident leading to a loss of over $7 million.
Compared to the ten-month total of $1.4 billion, losses in October were approximately a quarter of the running monthly average. January showed the second-lowest losses at $33.7 million. The October statistics were not the result of a steady decline in losses but rather show a lack of major incidents that month. October’s 38 incidents were a quantitative low as well.Certik’s third-quarter report indicated the number of incidents in July was 79, falling to 66 in August and 39 in September.
Caution : Crypto Social Media Scams are on the rise. Many of the methods used have roots in history. The combination of social media's vast reach and cryptocurrency's decentralized, often opaque, nature creates an ideal environment for scammers..
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