Crypto losses declined over 50% in 2023

Hackers and scammers laid back on the weekends, CertiK report finds

While hackers continue to hack the crypto industry for a cash grab, the dollar amount is down substantially compared to the previous year.

The total amount “lost” during 2023 from security incidents was almost $2 billion, down 51% from 2022, according to security-focused CertiK’s annual 2023 web3 security report. The report defines losses in this context as the value of digital assets stolen by malicious actors.

During the past year, 10 incidents — including the $200 million Mixin and the $197 million Euler Finance hacks — accounted for $1.11 billion of losses. The average median loss for other incidents was around $101,000.

One bit that wasn’t featured in the report is that there was a “marked decline” in hacks and scams over the weekends during 2023. “Tuesdays, Wednesdays, Thursdays and Fridays all see about the same prevalence of incidents, while Mondays are noticeably quieter, Saturdays quieter again, and Sundays the quietest of all,” CertiK co-founder and CEO Ronghui Gu told TechCrunch+.