Curtailment of Cryptocurrency Losses by Over 50% in the Year 2023

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Crypto losses declined over 50% in 2023 Hackers and scammers laid back on the weekends, CertiK report findsWhile hackers continue to hack the crypto industry for a cash grab, the dollar amount is down substantially compared to the previous year. The total amount “lost” during 2023 from security incidents was almost $2 billion, down 51% from 2022, according to security-focused CertiK’s annual 2023 web3 security report. The report defines losses in this context as the value of digital assets stolen by malicious actors. During the past year, 10 incidents, including the $200 million Mixin Network and $197 million Euler Finance hacks, accounted for $1.11 billion of losses. One bit that wasn’t featured in the report is that there was a “marked decline” in hacks and scams over the weekends during 2023.