November 2023 was a tumultuous month for the cryptocurrency world, with a significant rise in scams and hacking incidents, according to a report by CertiK. The blockchain security firm observed an alarming increase in ‘rug pull’ scams, where developers abandon a project after raising funds, leaving investors in a lurch. In addition, the cybersecurity company noted a spike in DeFi hacks, with attackers exploiting smart contract vulnerabilities. The report highlights the urgent need for improved security measures and user awareness in the crypto space to ensure investor protection.
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