Web3’s October Carnage: $45.8M Vanishes in Crypto Chaos 🕳️💸

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In the grim annals of our digital age, where the shadows of greed and deceit loom larger than the promises of blockchain, GoPlus Security’s on-chain vigil has unveiled a month of unparalleled calamity. October, a month once celebrated for its harvest, has instead reaped a bitter crop of losses exceeding $45.84 million in the crypto realm. A testament, if ever there was one, to the fragility of our newfound digital utopia. 🌾⚰️

  • The faithful of Web3, those who dared to dream of a decentralized future, found themselves ensnared in a web of exploits, phishing scams, and hacks. Among the culprits, the specter of North Korean groups and the folly of firms like SBI Crypto, Garden Finance, and Astra Nova stand as monuments to hubris. Over $45.84 million vanished, not into thin air, but into the coffers of the cunning and the ruthless. 🕷️💔
  • GoPlus, in its solemn duty, reported a 600% surge in honeypot tokens across Ethereum, Base, and BSC networks, unmasking 2,189 tokens of treachery. These honeypots, sweet in appearance but deadly in intent, lure the unsuspecting, trapping them in a digital prison from which their funds cannot escape. A modern-day siren’s song, with wallets as the shipwrecked. 🐝🚫

The report from GoPlus, a beacon in the darkness of on-chain security, paints a picture of a community beset by trials. Hacks, exploits, social engineering, honeypot tokens, phishing attacks, Ponzi schemes, and token rugpulls-each a thorn in the side of the crypto faithful. Sixteen high-profile incidents, each a scar on the face of Web3, led to losses that ranged from the merely tragic to the catastrophically absurd.

Chief among these was the SBI Crypto hack, a wound inflicted at the month’s dawn. $21 million in Bitcoin, Ethereum, Litecoin, Dogecoin, and Bitcoin Cash were spirited away, leaving the exchange bereft. Crypto sleuth ZachXBT, alongside Cyvers, traced the exploit’s scent to North Korean hacking groups, their methods as familiar as they are sinister. Yet, SBI Crypto remains silent, neither confirming nor denying the whispers of Pyongyang’s involvement. 🇰🇵🤐

Garden Finance, too, felt the blade of the hacker, losing $10.8 million to the digital brigands. Astra Nova, its social media account compromised, watched as its native token, RVV, was sold off in a frenzy, resulting in a $10.3 million loss. A cautionary tale, if ever there was one, of the perils of trust in an untrusting world.

Phishing scams, those digital sirens, have seen a resurgence, claiming $3.5 million from 11,000 victims. The trading platform GMGN, a modern-day Troy, saw 107 users fall prey to a fake third-party website, their losses totaling over $700,000. In another tragedy, a trader lost $325,000 in Coinbase Wrapped BTC to a malicious authorization, while another suffered a $440,000 loss to a “permit” order. “Phishing-as-a-Service,” GoPlus laments, has democratized deceit, aided by AI, spreading its tentacles across the crypto ecosystems. 🦑🎣

GoPlus: Honeypot tokens on the rise

The scourge of honeypot tokens, those digital traps, has seen a resurgence across Ethereum, Base, and Binance Smart Chain. GoPlus reports a 600% increase, with 2,189 tokens identified as malicious. Yet, this pales in comparison to June 2025, when 40,000 such tokens plagued the crypto community. BSC, with 1,780 honeypots, leads the pack, followed by Ethereum’s 216 and Base’s 131. A reminder, if one were needed, that in the digital wilderness, sweetness often conceals poison. 🍯☠️

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2025-11-12 13:29