Cybersecurity Breach Surges To $168M Losses In Just 7 Days: Report

Key Points:

According to SlowMist, Cybersecurity breach surged to $168 Million over the last 7 days. Key incidents include Kyber Network’s liquidity exploit, HTX Protocol breach, Kronos Research API key compromise, and series of rug pulls on BSC & ETH networks.

In the SlowMist Weekly Security Report for November 19 to November 25, 2023, several significant cybersecurity incidents were highlighted, emphasizing the need for increased vigilance. The total estimated loss for the week exceeded $168 million.

One of the key incidents involved Kyber Network’s Liquidity Exploit, which resulted in a loss of approximately $54.7 million due to a flaw in liquidity calculation within KyberSwap Elastic.

Another notable breach was the HTX Protocol Breach, where a critical private key leakage led to a substantial loss of $113.3 million.

Week of chaos: Cybersecurity Breach Surge Massively

Additionally, unauthorized access to Kronos Research API resulted in a $26 million loss. The report also mentioned a series of rug pulls on the BSC and ETH networks, involving multiple incidents of liquidity withdrawal by deployers, causing total price collapses in various tokens.

To prevent such breaches, SlowMist recommended enhanced monitoring for unusual protocol activities, thorough review of liquidity providers and smart contract codes, strengthened security practices for private key management, and educative resources for identifying and mitigating risks of rug pulls.

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