PeckShield Reports Alarming Increase in Exploitations in February 2023

03/01/2023 01:04 • Tech Trends • 153 views

It is reported that according to PeckShield statistics, more than 200 exploitations were detected in February 2023, with the stolen amount of US $35.3 million, of which about 141 exploitations occurred on February 11. One of the largest security incidents was the exploitation of BonqDAO vulnerabilities, resulting in a loss of $120 million, while the attacker gained about $2 million.

In February, there were more than 200 exploits, with the stolen amount of US $35.3 million

Analysis based on this information:

PeckShield, a renowned blockchain security company, has recently reported a surge in exploitations in February 2023. The alarming increase of over 200 exploitations resulted in a stolen amount of $35.3 million. Among the attacks, February 11th was the most significant with approximately 141 exploitations detected. Such increased activity is a concern for cybersecurity experts and indicates a particular urgency to address vulnerabilities in blockchain technology.

One of the most significant incidents in February was the exploitation of the BonqDAO vulnerabilities, which resulted in a loss of $120 million. While the hacker profited around $2 million, the project suffered an immense loss. This not only emphasizes the importance of ensuring security in the blockchain world but also highlights how rogue operators could use vulnerabilities to their advantage.

PeckShield statistics suggest that as blockchain technology evolves and thrives, the number of exploitations aiming to steal digital assets is expected to escalate. The vulnerability of many cryptocurrency projects is a severe challenge, and companies need to invest in blockchain security to avoid future thefts.

The BonqDAO incident confirms that audits and regular vulnerability assessments are crucial to avoid such exploitations. Thus, it is essential to make security assessments mandatory for every blockchain project before releasing them to the public. Consensus algorithms and mechanisms have essential roles to play in blockchain security, with the adaptation of the latest protocols and algorithms also aiding in reducing the risks of digital asset attacks.

In conclusion, the PeckShield report highlights the growing number of exploitations targeting blockchain projects. It is crucial to tackle such activities, implement mandatory cybersecurity assessments and reviews, and stay up to date with the latest blockchain security protocols. Thus, any company or project that aims to launch a blockchain should prioritize having a robust security framework to reduce the vulnerabilities and risks associated with such malicious activities.

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PeckShield Reports Alarming Increase in Exploitations in February 2023

In February, there were more than 200 exploits, with the stolen amount of US $35.3 million

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