Web3 Security Review for November: $184 Million Lost, $128 Million Stolen from Balancer in a Single Incident

[BlockBeats] November was another bloody month in the Web3 space, with total losses from various security incidents soaring to $184 million.

The worst hit was Balancer, which lost $128 million directly to hackers. The Korean exchange Upbit wasn’t spared either, losing $36.8 million. This wave of attacks came in all forms—smart contract exploits, social engineering phishing, Ponzi schemes, rug pulls—everything you can imagine.

Looking at the data: smart contract vulnerabilities were the hardest hit, with 15 major incidents directly causing $175 million in losses. While phishing attacks didn’t involve large amounts per incident, the sheer volume made up for it—around 7,000 unlucky victims were affected, with cumulative losses of about $8 million.

This month’s security situation is really grim, so everyone should stay extra vigilant when operating on-chain.