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

A report from app provider De.Fi has revealed that crypto theft losses were drastically reduced in Q1 2023, compared with 2022. The total amount lost to crypto theft in Q1 2023 was $322 million, representing a decrease of 54% from Q1 of the previous year.

The report also showed that a third of the funds that were stolen were recovered by the companies affected. This is largely due to the increase in security measures that these companies have implemented to protect themselves from future attacks. Additionally, the report revealed that most of the attacks happened on centralized exchanges, with 72% of the thefts originating from these platforms.

The report serves as an example of how the cryptocurrency industry has advanced in terms of security. Not only have companies become more aware of the potential threats that exist in the space, but they have also taken the necessary steps to ensure the safety of their funds and users. This is encouraging news for the industry, as it shows that the efforts to curb cybercrime within the space are bearing fruit.

At De.Fi, we are dedicated to providing the best possible solutions to combat cybercrime and ensure that our users remain safe. We will continue to do our best to stay ahead of the curve and provide our users with the latest security measures available.

The report can be accessed here.

Categories: Decentralized Exchange