Crypto-related hacks and scams saw a 27.78% year-over-year decline in 2023 as the industry has become more vigilant.
Blockchain security firm PeckShield published the data on Jan. 29 in a detailed report on hacks and scams that took place throughout the year.
Hacks and recoveries
According to PeckShield’s recent report, 2023 saw over 600 major hacks in the crypto space that culminated in a loss of approximately $2.61 billion.
This figure, though staggering, is a reduction from the amount stolen during the previous year, which exceeded $3.6 billion. The breakdown of the 2023 figures shows that $1.51 billion was lost due to hacks, while scams accounted for $1.1 billion of the total losses.
One of the most notable incidents of the year involved the cryptocurrency exchange Poloniex, which suffered a significant hack in November 2023, leading to losses of over $100 million. In response, major shareholder Justin Sun announced a $10 million bounty for the hackers.
The year also saw sophisti
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