Crypto thieves successfully pilfer $2 billion in 2023
In a shocking turn of events, hackers have successfully pilfered a staggering $2 billion worth of cryptocurrency in 2023. However, there is a glimmer of hope as this marks the first decline in such incidents since 2020.
Throughout the year, scammers and hackers have been relentless in their cyberattacks and rug pulls, leading to the theft of approximately $2 billion worth of digital assets. This alarming statistic was reported by De.Fi, a renowned web3 firm. The spokesperson for De.Fi, while speaking to TechCrunch, stressed the importance of this figure, as it highlights the persisting vulnerabilities and challenges within the DeFi ecosystem.
De.Fi’s REKT database has documented an astounding 455 incidents in 2023, with the largest hack amounting to a whopping $231 million, which was attributed to Multichain. Despite the massive $2 billion total, cybersecurity experts and white hat hackers have managed to recover around $200 million from the overall sum, according to De.Fi’s data.
When it comes to the frequency of hacks, Ethereum seems to be leading the pack, contributing to over 70% of the stolen funds in five out of twelve months in 2023. For example, in November alone, the Ethereum network accounted for nearly 99% of all incidents that occurred during that month.
These hacking and scamming activities continue to pose significant obstacles to the widespread adoption of cryptocurrencies. In 2022, the industry suffered losses exceeding $3.8 billion due to dubious schemes and cyber incidents, as per data from Chainalysis.
It is evident that urgent action and heightened security measures are needed to combat these malicious activities and safeguard the crypto space. The industry must remain vigilant and proactive in order to protect investors and maintain the integrity of the digital asset ecosystem.
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