Crypto losses have gone down significantly in the first quarter of 2024, according to a research published by Immunefi. This comes after hacks and losses decreased throughout 2023, after hitting an all time high in 2024. However, hacks still remain a prominent issue for many in the market.
Crypto Losses Topple in First Quarter
According to Immunefi, compared to Q1 2023, the total number of losses decreased by 23.12% to $437.5 million, which is a significant decrease in Q1 2024. The report also highlights that this year’s January saw the most loss overall. From 74 attacks in Q1 2023 to 61 attacks in Q1 2024, there was a 17.57% drop in attacks as well.
Data further showed that Comparing Q1 2024 to Q1 2021, Ethereum topped BNB Chain once more and emerged as the most sought-after chain. Funds recovery has shown to be less successful in Q1 2024 than it was in the prior quarter. Of the money that were taken, 22% have been found so far; in Q1 of 2023, 40.5% were found.
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