фото показано с : invezz.com

The total funds lost to crypto hackers in 2023 is down more than 50% compared to volumes recorded in 2022, according to a report by blockchain security and analytics firm TRM Labs.

Despite the 160 hacking incidents reported in the year, the total of $1.7 billion stolen by the end of November was significantly lower compared to the $4 billion losses suffered across the crypto industry last year.

“Although a few large hacks could close the gap in December, 2023 is likely to finish with significantly lower totals than 2022,” TRM Labs wrote in their report.

Nearly 60% of the attacks this year have been infrastructure attacks, with the most damaging being private key theft.

Such attacks accounted for an average of $30 million per incident, the report states. Infrastructure attacks dwarfed both protocol attacks and code exploits, which have so far accounted for 20% of total hack volumes.

Crypto hack volumes fell by over 50% in 2023 compared to 2022 according to research by TRM Labs. Click here to read the story: https://t.co/HFOedUeCqR pic.twitter.com/MPEaHqWdSL

Incidentally, the top ten hacking incidents were responsible for nearly 70% of all stolen funds this year. According to TRM Labs researchers, this mirrors the outlook for 2022.

In 2023, several large hacks topped $100 million, including Euler Finance, Multichain, Mixin Network and Poloniex, which was hacked in November. HTX was also recently hacked.

While the crypto industry continues to report hacking incidents, the low volumes registered in the first 11 months of the year can be attributed to three key factors.

According to TRM Labs’ report, one of these is the significant improvement in security measures across the industry. Apart from increased law enforcement action, there has been a close coordination between various crypto ecosystem players.

Among measures to help cut potential attacks include real-time monitoring of transactions and integration of anomaly detection systems. With digital wallets, protocols and exchanges’ security bolstered, many would-be breaches were thwarted.

The actions of law enforcement agencies also helped, with collaboration leading to most stolen assets traced and recovered, or frozen. But while these efforts appear to have contributed to the drop in total hack volumes, experts opine that crypto remains “inherently uncertain”, with potentially sophisticated threats a key concern.

The post Crypto hack losses have declined 50% in 2023: report appeared first on Invezz

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