According to the most recent update from Immunefi, between January and October 2023, a total of over $1.41 billion was reported lost due to hacking and fraudulent activities across 292 distinct incidents.

In the month of October 2023 alone, losses reached an approximate figure of $22.2 million, primarily attributed to hacking and fraudulent activities. During this period, the blockchain networks most frequently targeted were BNB Chain and Ethereum, contributing to 83.3% of the total losses among the affected chains.

Immunefi disclosed that BNB Chain faced the highest number of individual attacks, with 11 incidents, resulting in 45.8% of the overall losses among the targeted chains. In contrast, Ethereum experienced 9 incidents, accounting for 37.5% of the total losses. Avalanche, a Layer 1 blockchain, had 2 incidents, making up 8.3% of the losses in October. Additionally, Polygon and Fantom each witnessed 1 incident, representing 4.2% of the total losses, respectively.

Hacking incidents continued to be the primary cause of financial losses, exceeding fraudulent activities, with a total loss exceeding $16.35 million for the month. Immunefi stated, "In October 2023, hacking incidents remained the leading cause of losses compared to frauds, scams, and rug pulls. An analysis of the losses reveals that fraud accounted for 26.32% of the total losses in October 2023, while hacking incidents contributed to 73.68%."

DeFi platforms remained the primary target for exploitation in October, constituting 100% of the total losses. In contrast, there were no major exploits reported in CeFi platforms.

Taking a broader perspective, the third quarter of 2023 witnessed the highest losses, primarily driven by over $340 million in September and more than $320 million in July, as reported by the Web3 bug bounty platform. An earlier report from blockchain security firm CertiK also indicated that nearly $332 million in various digital assets were lost due to exploits, hacks, and scams in September.