According to a recent report from AvengerDAO, created by security organizations CertiK, Hashdit, Ancilia, and Salus, there has been a significant decrease in the amount of cryptocurrency lost on the BNB chain in 2023, breaking a three-year trend of increasing losses. The report revealed that the BNB chain experienced its highest loss in 2022, with over $1.1 billion in crypto assets stolen. However, in 2023, these losses dramatically reduced to $161 million.
The report also observed a decline in the total funds lost due to hacks and scams on the BNB chain. In 2023, losses from hacking incidents decreased by 91%, and losses from fraud dropped by 54%. Despite this decline in value lost, there was actually an increase in the number of hacking and scamming attempts. The year saw a 96% increase in hacking attacks, totaling 210, and a 14% rise in scam attempts, reaching 2,023.
A representative from the BNB Chain core development team attributed the significant reduction in capital losses to the efficient alert system of AvengerDAO, which quickly warns the community about potential threats. They noted that the decrease in losses was not due to a reduction in the number of hacking or scamming attempts but rather the effectiveness of AvengerDAO's rapid alerting system in preventing users from falling victim to these scams.
The BNB Chain team also emphasized an increase in "red alerts" in 2023, which are warnings about potential risks issued using risk screening tools. For instance, in 2023, security firm Hashdit issued about 3,500 alerts through their Red Alarm system, with 330 alerts being posted on X (previously known as Twitter).
Finally, the report mentioned AvengerDAO's ongoing commitment to safeguarding the community from exploits, scams, and malicious entities. The representative from the BNB Chain team shared that AvengerDAO plans to expand its partnership network, enhancing the overall security and protection of the ecosystem.
