In January 2024, encryption security incidents occurred frequently, with losses reaching a record high of $205 million.

In January 2024, security incidents in the Crypto Assets industry occurred frequently, with losses significantly rising compared to the previous month. According to statistics, there were over 34 typical security incidents this month, with total losses due to Hacker attacks, scams, and Rug Pulls amounting to approximately $205 million, an increase of 93% compared to December last year. Among these, losses from Hacker attacks were about $161 million, a rise of 71%; losses from scams were around $33.31 million, a rise of 247%; and losses from Rug Pulls were about $11 million, a rise of 280%.

Significant events this month resulting in losses exceeding ten million dollars include: the theft of 112 million dollars from the personal account of Ripple co-founder Chris Larsen; the attack on South Korea's Web3 music platform SOMESING resulting in a loss of 11.58 million dollars. In addition, there have been multiple cases this month where individuals lost over one million dollars due to phishing, with a substantial increase in the number of phishing scam incidents.

In terms of hacker attacks, there were a total of 13 typical cases, resulting in losses of approximately $161 million. The main ones include:

1. Radiant Capital was attacked due to a contract vulnerability, resulting in a loss of 4.5 million USD.
2. Gamma Strategies遭攻击损失618万美元
3. CoinsPaid was attacked and lost 7.5 million dollars
4. The Narwhal project was attacked and lost 1.5 million dollars due to a private key leak.
5. Socket lost 3.3 million USD due to contract vulnerabilities and has recovered 2.3 million USD.
6. The GAMEE project was attacked, resulting in a loss of 7 million US dollars.
7. Concentric.fi suffered a social engineering attack resulting in a loss of 1.7 million USD.
8. Nebula Revelation suffered a reentrancy attack with a loss of $180,000
9. SOMESING was attacked and lost 11.58 million dollars.
10. Goledo Finance suffered a loss of 1.7 million dollars due to a flash loan attack.
11. Barley Finance suffered a reentrancy attack resulting in a loss of $130,000.
12. MIM_Spell lost 6.5 million dollars due to a contract vulnerability.
13. Chris Larsen's personal account was hacked for $112 million.

In terms of project Rug Pulls and scams, a total of 11 typical cases occurred, resulting in losses of approximately 25.11 million USD. The main ones include:

1. A certain address was hacked for 1.3 million dollars due to signing a malicious transaction.
2. An address was hacked for 2.47 million dollars due to signing a malicious transaction.
3. An address suffered a loss of 4.4 million dollars due to an address poisoning attack.
4. MangoFarm project Rug Pull cashes out 2 million USD
5. XKING project Rug Pull cashes out 1.24 million USD
6. The SEC's official social media account was hacked and posted false information.
7. Hector Network project Rug Pull cashes out 2.7 million USD
8. A certain address suffered a phishing scam loss of 4.7 million dollars.
9. A certain address suffered a phishing loss of 1.3 million dollars.
10. A certain address suffered a phishing scam loss of 2.66 million dollars.
11. An address suffered a phishing scam loss of 2.34 million dollars.

In terms of cases related to Crypto Assets, there have been a total of 10 typical cases:

1. The Shenzhen Court ruled on a digital collectible fraud case.
2. The Shanghai Procuratorate has filed a public prosecution against a 220 million yuan illegal foreign exchange case involving virtual coins.
3. The first case of digital renminbi "Rug Pull" in Shanghai disclosed
4. Zhengzhou concludes the "group" buying and selling virtual currency fraud case, involving 1.3 million yuan.
5. A woman is on trial in London, suspected of laundering £5 billion using Bitcoin.
6. German police seized 2.1 billion dollars in Bitcoin
7. The U.S. Drug Enforcement Administration seized $150 million in Crypto Assets accounts.
8. The main perpetrator of the Silk Road case pleads guilty, 8100 bitcoins confiscated.
9. The U.S. sues a German businessman for an alleged $150 million Crypto Assets scam.
10. An Indian national pleaded guilty to drug trafficking on the dark web and had $150 million in Crypto Assets seized.

In terms of blockchain-related policies, the main progress includes:

1. The Hong Kong Securities and Futures Commission has released a three-year policy focus to support the development of virtual assets.
2. The State-owned Assets Supervision and Administration Commission will improve the pricing of transactions for data assets of central enterprises.
3. Jiangsu Province issued the Management Measures for Data Intellectual Property Registration.
4. The three departments released guidelines for the construction of the blockchain standard system
5. Zhejiang explores the establishment of a data property rights trading system.
6. Shanghai accelerates the construction of urban blockchain infrastructure

In terms of the development of the blockchain industry, the main progress includes:

1. Wuhan Smart City Blockchain Hub Launches
2. Xiamen Torch Metaverse Public Technology Service Platform Unveiled
3. Jiangsu Province Blockchain Assessment Center Approved for Establishment
4. Wuxi, Jiangsu has established a special fund of 100 million yuan to support the application of the Metaverse.
5. The Metaverse Industry Alliance was established in Putuo District, Shanghai.
6. Shandong Provincial Blockchain Research Institute Selected as Data Open Innovation Laboratory

In terms of promoting blockchain applications, the main progress includes:

1. The State Grid issued the first blockchain electronic data certification certificate.
2. The first blockchain-based network empowerment notary platform launched
3. Jining issues the first data asset credit loan
4. Heze utilizes blockchain technology to innovate public resource trading.
5. Suzhou Metro supports digital RMB offline payment for the entire line.
6. Hong Kong supports financial institutions to carry out cross-border pilot programs for digital renminbi.
7. The first provincial-level Metaverse application scenario innovation engineering research center was established.
8. Fujian realizes full-scene tax payment with digital RMB
9. Bank of China launches a digital RMB hardware wallet supporting Hong Kong Octopus.

In terms of digital assets and industry regulation, the main trends include:

1. U.S. Senator Proposes Bill to Combat Illegal Use of Crypto Assets
2. Canada Seeks Opinions on New Regulations for Investing in Crypto Assets Funds
3. Bank of China releases cross-strait digital RMB hardware wallet
4. The central bank's Shanghai headquarters focuses on preventing the risks of speculation in virtual currency trading.
5. The European Banking Authority has expanded anti-money laundering measures to crypto assets companies.
6. South Korea will start taxing virtual currency in 2025.
7. South Korea will establish a financial institution-level virtual asset monitoring system.
8. South Korea has established comprehensive guidelines for the issuance of virtual assets.
9. The Shanghai tax authorities clarify that individuals buying and selling virtual currency are required to pay personal income tax.
10. South Korea proposes to ban credit card payments for Crypto Assets
11. The EU will investigate the relationship between banks and crypto entities.
12. The U.S. requires crypto brokers to report large transactions.
13. The U.S. SEC sues HyperFund scam involving $1.7 billion
14. Finland tracks Monero coin transactions related to the Vastaamo hacker case
15. CFTC warns against using AI for Crypto Assets arbitrage scams

Other important developments include:

1. The Web3 communication platform Sending Network has released its white paper.
2. Global Web3 Industry Research Report Released
3. The central bank and the Hong Kong Monetary Authority have launched six cross-border financial policies.
4. Multiple fund companies are preparing to launch virtual asset ETFs in Hong Kong.
5. OKX Web3 Wallet supports Solana cross-chain transactions
6. Hong Kong requires licensed exchanges to provide at least 50% insurance for customer assets.