Blockaid report: 60 crypto attacks resulted in losses of 1180000000 USD; issuer blacklists and exchange interventions recovered no funds
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AT A GLANCE
Blockaid said that the 60 crypto attacks it tracked resulted in losses of 1180000000 USD; only 9800000 USD was returned to victims.
Article
Security firm: This year, 60 crypto attacks, stablecoin issuer blacklists and exchange interventions recovered no funds
PANews October 21 reported that security firm Blockaid released a report stating that this year,January 5 to August 5 the 60 crypto attacks it tracked resulted in total losses of 1180000000 USD. Of this, only 9800000 USD was returned to victims, accounting for 0.8%; another 81400000 USD was frozen, while 1040000000 USD remains unrecovered. Stablecoin issuer blacklists and exchange interventions recovered no funds. In 16 incidents, issuer blacklists were available but were never activated. Of the 91200000 USD recovered or frozen, 99%came from protocol- or chain-level governance and validator measures; for example, the Arbitrum Security Council froze 71000000 USD following the KelpDAO incident. The median time before stolen funds began moving after an attack was 17 minutes.
PANews relayed a report released by security firm Blockaid.
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The report said it tracked January 5 to August 5 that occurred 60 crypto attacks, with total losses of 1180000000 USD。
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The report said that only 9800000 USD was returned to victims, accounting for 0.8%; another 81400000 USD was frozen, while 1040000000 USD remains unrecovered.
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The report said that stablecoin issuer blacklists and exchange interventions recovered no funds.
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The report said that in 16 incidents where issuer blacklists were available, the blacklists were never activated.
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The report said that of the 91200000 USD recovered or frozen, 99%came from protocol- or chain-level governance and validator measures.
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The original article cited the example that the Arbitrum Security Council froze 71000000 USD。
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The report said that the median time before stolen funds began moving after an attack was 17 minutes.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
The key point of this report is that, after an attack occurs, very little of the funds is actually returned to victims. Although some funds may be frozen, freezing does not mean they have been returned. The report also said that, in these statistics, stablecoin blacklists and exchange interventions produced no recovery results, while recoveries or freezes relied primarily on protocol- or blockchain-level governance and validator measures.
Why it matters to readers
The median time before stolen funds began moving was only 17 minutes, indicating that the response window may be very short. The data in the report also show that frozen funds, recovered funds, and funds returned to victims are distinct outcomes and should not be conflated when assessing security incidents.
Beginners should understand that stolen assets cannot necessarily be recovered through issuers or exchanges; before using crypto protocols, they should pay close attention to smart-contract and protocol risks and distinguish between “freezing” and “returning” funds.
Risks and unknowns
The existing evidence is PANews' summary of a Blockaid report; neither the original report nor 60 incident list is provided.
The specific year corresponding to “this year” is not explicitly stated in evidence.text.
The methodology, inclusion criteria, and case-by-case data for each incident cannot be verified from the existing text.
81400000 USD The original text does not state whether the funds, after being frozen, will ultimately be returned to the victims.
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The original text does not state the specific reasons why the stablecoin issuer did not activate the blacklist or the conditions for doing so.
Related concepts
Stablecoin issuer blacklists
This term is not in the glossary yet. Browse related concepts in the glossary.
