Crypto’s hackers and scammers have just rounded out the most “damaging” month for crypto in 2023, according to blockchain security firm CertiK, with $363 million pilfered in November. The United States Securities and Exchange Commission (SEC) has requested comments on Fidelity’s spot Ether exchange-traded fund (ETF) application. Meanwhile, the KyberSwap hacker has demanded the surrender of all Kyber company assets.
Crypto thieves steal $363M in November, new data reveals
The cryptocurrency industry has now seen its most “damaging” month for crypto thievery, scams and exploits in 2023, with crypto criminals walking away with $363 million in November, according to a blockchain security firm.
Around $316.4 million came from exploits alone, flash loans inflicted $45.5 million in damage, and $1.1 million was lost to various exit scams, CertiK stated in a Nov. 30 X (formerly Twitter) post.
Combining all the incidents in November we’ve confirmed ~$363M lost to exploits, hacks and scams
This makes November the most damaging month this year
Exit scams were ~$1.1M
Flash loans were ~$45.5M
Exploits were ~$316.4M
See more details below pic.twitter.com/QoDy6d8IJH
— CertiK Alert (@CertiKAlert) November 30, 2023
Meanwhile, the $45 million KyberSwap attack accounted for nearly all damage done for flash loan attacks in the month.
As of the end of November, about $1.7 billion has now been lost to exploits, exit scams and flash loan attacks in 2023.
SEC solicits comments on Fidelity’s ETH ETF
“Interested persons” may comment on Fidelity’s ETF application over a period of 21 days, the SEC said. Fidelity first filed the application on Nov. 17, becoming one of many asset managers to pursue a digital asset spot ETF in the United States.
Has been long known that Fidelity entered the spot ETF race but this filing *essentially* starts the ~240+ day clock for their spot #Ethereum ETF. Just another step in the process. Will have definitive deadline dates in the coming weeks https://t.co/0C6NKcxNNz pic.twitter.com/gdW9ZQDgs9
— James Seyffart (@JSeyff) November 30, 2023
“The lack of an ETP that holds spot ETH […] exposes U.S. investor assets to significant risk because investors that would otherwise seek crypto asset exposure through a Spot ETH ETP are forced to find alternative exposure through generally riskier means,” the filing said, adding that approval would “represent a major win for the protection of U.S. investors in the crypto asset space.”
The SEC has yet to approve any spot crypto asset product due to concerns about the size of the crypto market and Ipropensity for manipulation.
KyberSwap hacker demands complete control over Kyber company
The hacker behind the $46 million KyberSwap exploit has finally released their conditions for the return of the stolen funds, which includes “complete executive control” over the Kyber company.
On Nov. 30, the KyberSwap hacker sent an on-chain message addressing all relevant and interested parties. The hacker laid out demands, including control over the company, temporary full authority and ownership of its governance mechanism, the KyberDAO, all documents related to the company and all of the Kyber company assets.
In exchange, the hacker promised to buy out the company’s executives at a fair valuation and “wished well” in their “future endeavors.” The hacker also promised to double the employees’ salaries under the new regime. They wrote that while some may not want to stay, they will still be given a 12-month severance with full benefits and assistance in finding new careers.
The hacker explained that this was their best and only offer. According to the exploiter, the Kyber team should meet the demands by Dec. 10. If not, the “treaty falls through.” The hacker also threatened that the treaty would also be void if any agents contacted them concerning the trades they placed on Kyber.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.