Mixin

<p class="is-style-lead">Analysts at blockchain forensic firm PeckShield say the crypto industry witnessed over 600 hack incidents over the past year.</p> 
<p>In <a href="https://twitter.com/PeckShieldAlert/status/1751788344281886726/" target="_blank" rel="noreferrer noopener">an X post</a> on Jan. 29, <a href="https://crypto.news/tag/peckshield/" target="_blank" rel="noreferrer noopener">PeckShield</a> released an infographic highlighting the extensive scale of hacker attacks targeting the crypto sector in 2023. According to their data, crypto investors faced losses amounting to $2.6 billion due to illicit activities, with a recovery of nearly $675 million.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#PeckShieldAlert</a> 2023 saw 600+ major hacks in the crypto space, resulting in ~$2.61B in losses, with $674.9M recovered. <br>$1.51B lost to hacks (excluding <a href="https://twitter.com/hashtag/Multichain?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Multichain</a> unauthorized withdrawals) &amp; $1.1B to scams. This marks a 27.78% decrease from 2022. <a href="https://twitter.com/hashtag/DeFi?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#DeFi</a> protocols remained prime… <a href="https://t.co/G7PIU3WyrX" target="_blank">pic.twitter.com/G7PIU3WyrX</a></p>— PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1751788344281886726?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 29, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>PeckShield’s findings reveal that investors suffered losses of over $1.5 billion from <a href="https://crypto.news/tag/hack/" target="_blank" rel="noreferrer noopener">hacks</a> and an additional $1.1 billion from <a href="https://crypto.news/tag/crypto-scam/" target="_blank" rel="noreferrer noopener">scam</a> schemes, reflecting a 27.78% decrease compared to 2022. Despite this decline in percentage, decentralized finance remains a primary target for malicious actors, constituting 67% of the total stolen value, according to PeckShield.</p> 
<p> You might also like: <a href="https://crypto.news/ethereum-suffered-highest-losses-due-to-rug-pulls-and-hacks-data-shows/"> Ethereum suffered highest losses due to rug pulls and hacks, data shows </a> </p> 
<p>The <a href="https://crypto.news/mixin-network-temporarily-halts-operations-following-200m-defi-exploit/" target="_blank" rel="noreferrer noopener">Mixin Network hack</a> stands out as the largest incident in terms of stolen funds, resulting in a loss of around $200 million in crypto, followed closely by <a href="https://crypto.news/euler-hacker-returns-31m-bringing-funds-recovered-to-177m/" target="_blank" rel="noreferrer noopener">Euler Labs</a> whose losses totalled $197 million and <a href="https://crypto.news/poloniex-hot-wallet-hacked-with-losses-reportedly-over-33m/" target="_blank" rel="noreferrer noopener">Poloniex</a>, who accrued $125 million in hack losses.</p> 
<p>In total, illicit addresses <a href="https://crypto.news/illicit-crypto-addresses-received-over-24b-in-2023-chainalysis-says/">received</a> over $24 billion worth of crypto in 2023, showing a decrease from the estimated $39.6 billion in 2022, as per Chainalysis. The landscape of crypto crime saw a shift in the types of assets involved. While Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) previously dominated,&nbsp;<a href="https://crypto.news/tag/stablecoin/" target="_blank" rel="noreferrer noopener">stablecoins</a>&nbsp;now constitute the majority of illicit transaction volume, data shows. Chainalysis says the change aligns with the broader trend of stablecoins gaining prominence in legitimate crypto activities.</p> 
<p> Read more: <a href="https://crypto.news/north-korea-set-new-record-by-number-of-crypto-hacks-in-2023-data-shows/"> North Korea set new record by number of crypto hacks in 2023, data shows </a> </p>

Crypto investors lost nearly $2b over 600+ incidents in 2023, data shows

crypto.news

Other articles published on Jan 29, 2024

Hong Kong Stablecoin Sandbox Heats up With a Major Chinese Player on Board

Uphold Crypto Exchange Relist Dogecoin, Shiba Inu, Cardano, Other Altcoins

Crypto: Despite the grim predictions, Europe shows a high level of optimism

Coinbase Confirms that 18 Senators are Now Pro-Crypto

Solana Appears to Be ‘Breaking Out From a Descending Parallel Channel’, Analyst Eyes $113 if It C...

XRP, ADA Slammed by Max Keiser in Emotional Pro-Bitcoin Tweet

Join our free newsletter for daily crypto updates!