GoPlus Security’s on-chain monitoring concluded that a series of incidents occurred in the crypto community in October, resulting in over $45.84 million in losses in that month alone.
summary
- Web3 users lost more than $45.84 million through October due to massive exploits, phishing scams, and hacks. These include incidents related to North Korean groups and abuses of companies such as SBI Crypto, Garden Finance, and Astra Nova.
- GoPlus reported a 600% spike in honeypot tokens across the Ethereum, Base, and BSC networks, and identified 2,189 malicious tokens. Honeypot tokens trap investors by blocking the sale or withdrawal of funds.
According to a report published by on-chain security company GoPlus, the Web3 incident caused the community to suffer significant losses amounting to over $45.84 million. These incidents include hacks, exploits, social engineering attacks, honeypot tokens, phishing attacks, Ponzi schemes, token ragpulls, and more.
The platform noted in a translated blog post that there were 16 high-profile cases that resulted in losses ranging from thousands of dollars to millions of dollars in just one month.
One of the biggest culprits was the SBI Crypto hack that occurred earlier this month. The cryptocurrency exchange was the victim of a hack that resulted in $21 million being stolen from its platform across multiple assets, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), and Bitcoin Cash (BCH).
According to an investigation conducted by cryptocurrency detective ZachXBT with blockchain security firm Cybers, the exploit was linked to a North Korean hacker group. This is because the methods used to launder the money, including funneling stolen cryptocurrencies into the Mixer platform Tornado Cash, are similar to workflows used by the Lazarus Group and other North Korea-linked hacking syndicates.
However, this theory has neither been confirmed nor denied by SBI Crypto.
You may also like: SBI Crypto hack strips $21 million; money laundering evidence points to North Korean attackers
Another notable crypto exploit noted by GoPlus is the Garden Finance hack, which resulted in approximately $10.8 million in losses, according to ZachXBT. The official social media account Astra Nova also fell victim to a hack, leading to a massive sale of its native token, RVV. This incident resulted in approximately $10.3 million in losses.
According to the report, phishing scams have been on the rise over the past month, with losses totaling $3.5 million and impacting an estimated 11,000 victims. One of the biggest phishing scams involved trading platform GMGN, where around 107 users fell victim to external phishing attacks due to fake third-party websites tricking users into fraudulent transactions without their permission.
The fake platform cost users more than $700,000 in losses.
In another case, GoPlus noted that a crypto trader lost $325,000 worth of Coinbase Wrapped BTC after approving a malicious “increaseAllowance” approval. Meanwhile, another user suffered a loss of $440,000 in multiple crypto assets after signing a malicious authorization order labeled “Permit.”
“The attackers leveraged the ‘Phishing-as-a-Service’ platform and AI technology to significantly reduce the cost of creating phishing sites and launch widespread phishing campaigns across various cryptocurrency ecosystems,” GoPlus Security said in a blog post.
GoPlus: Honeypot tokens are on the rise
GoPlus recorded a 600% increase in honeypot tokens compared to September. Source: GoPlus Security
GoPlus also noted that there has been a significant increase in what are considered honeypot tokens across the ecosystem, including Ethereum, BASE, and Binance Smart Chain.
Honeypot tokens are a term used to describe a type of scam that involves tokens packed with malicious smart contracts that allow users to buy tokens, but prevent them from selling them or withdrawing funds due to hidden functionality.
The security firm found that the number of honeypot tokens increased by 600% compared to the amount recorded in the previous month, reaching 2,189 tokens. However, this number was still far below the numbers recorded in June 2025, when the crypto community saw an influx of honeypot tokens amounting to at least 40,000 tokens.
The highest number of honeypot tokens was found in BSC, specifically 1,780. Ethereum, on the other hand, had around 216 honeypot tokens, while Base only had 131 tokens.
You may also like: Breaking Bad’s Dean Norris’ X Account Hacked to Facilitate $8 Million Cryptocurrency Fraud
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
