Crypto hackers managed to steal $2b in 2023

Hackers managed to steal $2 billion in crypto in 2023, but for the first time since 2020, the trend is showing a decline.

Throughout 2023, scammers and hackers executed numerous cyberattacks and rug pulls, resulting in the theft of approximately $2 billion worth of cryptocurrency, as reported by De.Fi, a web3 firm. A spokesperson for De.Fi, in a conversation with TechCrunch, emphasized that the figure highlights the “persistent vulnerabilities and challenges within the DeFi ecosystem.”

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De.Fi’s REKT database documented at least 455 incidents in 2023, with the largest hack amounting to $231 million, attributed to Multichain. Despite the alarming $2 billion total, the efforts of cybersecurity experts and white hat hackers led to the recovery of approximately $200 million from the overall sum, De.Fi’s data shows.

Funds lost by blockchain | Source: De.Fi

Ethereum seems to be taking the lead in terms of the frequency of hacks, as it contributed to over 70% of the stolen funds in five out of twelve months in 2023. For instance, in November, the network accounted for about 99% of all incidents that month.

Hacking and scams continue to present a significant obstacle to the widespread acceptance of cryptocurrencies. In 2022, the industry incurred losses exceeding $3.8 billion due to dubious schemes and cyber incidents, according to data from Chainalysis.

Read more: Tool used in Ledger hack altered file domains since November

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