Amount Stolen by Hackers Decreases by Half: Report
According to a report by TRM Labs, the losses suffered by the crypto industry from hacking in the first half of 2023 were less than half of the total losses in the entire year of 2022.
From the months of January to November, incidents of cybercriminals stealing money in 160 attacks amounted to about $1.7 billion.
This is a significant decrease from the previous year, where the total was almost $4 billion.
The majority of the attacks, around 57.6%, were directed at infrastructure. Among these, the most damaging ones were attacks that targeted private keys and seed phrases.
Code exploits and protocol attacks made up a small percentage, at 10.5% and 10.8%, respectively.
Experts have identified three key factors that may have contributed to the decrease in hacking losses for the crypto industry in 2023, including improved security measures, including real-time transaction monitoring and detection systems for anomalies, the increased efforts of law enforcement around the world to address cybercrime involving cryptocurrency as well as better coordination within the industry, with increased collaboration between Bitcoin exchanges, wallet providers, and blockchain networks to exchange information about potential threats and vulnerabilities.
