On May 22, 2023, a report released by the blockchain analysis firm TRM Labs delved into nearly 40 hacks and assaults on cryptocurrency projects within the first quarter, discovering a 70% decline in incidents over the previous three months. The study says the slowdown is probably temporary, with over half of the purloined funds being reclaimed by hacking victims in Q1 2023.
Crypto Crime Cools: Hacks and Attacks Plummet 70% in Q1 2023
TRM Labs approximates that close to $400 million was pilfered in Q1 2023 from almost 40 separate crypto infiltrations and attacks. This statistic has plunged by around 70% compared to Q1 2022, as per the findings of the blockchain analytics firm. Moreover, this year’s first quarter recorded lower figures than any quarter of 2022 since the typical hack amounted to $10.5 million.
In contrast, the mean hack value during Q1 2022 reached over $30 million, experiencing a comparable count of nearly 40 incidents. A notable disparity between this year’s and las
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