Net losses from crypto theft down sharply in Q1 2023 at $322M: Report By Cointelegraph

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Net losses from crypto theft down sharply in Q1 2023 at $322M: Report

Published Mar 31, 2023 04:00PM ET Updated Mar 31, 2023 05:40PM ET

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Net losses from crypto theft down sharply in Q1 2023 at $322M: Report

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Crypto hackers and scammers made off with $452 million in the first quarter of 2023, according to a report released by antivirus and app provider De.Fi. But that is good and bad news, as losses were down from $1.3 billion in the first quarter of 2022. The recovery rate was down too, however.

According to the report, nearly half of the losses this quarter ($215 million) took place in the first three weeks of March. The Euler Finance and Bonq DAO exploits were the quarter’s loss leaders at $196 million and $120 million, respectively. Due to them, the Ethereum blockchain suffered the highest losses, even though Binance outnumbered them with 18 incidents to ten on Ethereum.

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