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The post Q1 2024 Crypto Hack Overview: Trends, Losses, and Recovery Efforts appeared first on Coinpedia Fintech News
The crypto market began rocky in 2024, with Q1 recording many on-chain security cases that threatened the cryptocurrency ecosystem’s integrity and stability. Various details illustrate this period’s widespread influence, outcomes, and trends. This brief comprehensive report will give a comparative overview of the hacks, a monthly breakdown, etc. 
Read on!
Comparative overview
Comparing the figures to the same period in 2023 reveals a stark reality: the total financial losses of $502,522,934 in Q1 2024 represented an alarming increase of 54% compared to the money lost in the same quarter of the previous year. While the percentage of losses went down by 3.8% relative to Q4 2023, the trend is still upward. This makes the crypto community worried about this situation.
Month-wise breakdown
January was the worst month in terms of the quarter’s finances, car

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