Based on TheMarketPeriodical, crypto projects lost over $194 million to malicious attacks in November, a 969% increase from October's $18.18 million. The Balanced attack alone accounted for more than half of the losses. PeckShield reported that five incidents, including exploits on Balancer, Upbit, YearnFi, HLP Bad Debt, and Gana payment, accounted for nearly $190 million of the total. The Balancer hack, which targeted v2 forks across multiple chains, resulted in $134.7 million in losses. Despite 11 audits, the attack exposed vulnerabilities in DeFi protocols. DeFiLlama data shows DeFi projects lost $168.7 million in November, making it the third-largest exploit month for the sector this year. The incidents sparked debates about DeFi security, with experts warning of ongoing smart contract risks and the need for stronger risk management infrastructure.
Crypto Hacks Surge 969% in November to $194 Million
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