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{"id":36010,"date":"2023-06-28T21:50:10","date_gmt":"2023-06-28T21:50:10","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/06\/28\/crypto-losses-halved-in-q2-2023-to-204m\/"},"modified":"2023-06-28T21:50:11","modified_gmt":"2023-06-28T21:50:11","slug":"crypto-losses-halved-in-q2-2023-to-204m","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/06\/28\/crypto-losses-halved-in-q2-2023-to-204m\/","title":{"rendered":"Crypto losses halved in Q2 2023 to $204M"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/28\/crypto-hack-scam-losses\/<\/a><\/br>
\nCrypto losses halved in Q2 2023 to $204M<\/br>
\n2023-06-28 21:50:10<\/br><\/p>\n

\n

As if the pessimism around crypto wasn\u2019t enough, the industry has historically been hounded by hackers and scammers looking to make a quick buck. To make things worse, it appears tracing and recovering lost funds is now getting harder than ever as attackers use increasingly sophisticated methods.<\/p>\n

According to a new report, only $4.9 million was recovered of the $204.3 million the industry lost to hacks, scams and rug pulls in Q2 2023, and that was significantly less than the $6.9 million recovered in Q2 2022. However, the good news is that losses in the second quarter were 55% narrower than in Q1 2023, when the industry lost a whopping $462.3 million to hacks and scams, with the Euler Finance flash loan attack accounting for 42.4% of the first quarter\u2019s losses, REKT\u2019s database showed<\/a>.<\/p>\n

The report, by web3 \u201csuper app\u201d and antivirus solution De.Fi with supporting data from the REKT database, detailed that so far this year, the industry had recovered about $183 million, or nearly 28% of the $666.5 million lost to scams and hacks.<\/p>\n

\"A<\/p>\n

Image Credits:<\/strong> De.Fi, REKT<\/p>\n<\/div>\n

Q2 saw over 100 exploits<\/h2>\n

This quarter had 110 recorded cases of \u201cscams, exploits or unintended losses,\u201d the report stated. The three biggest cases were the Atomic Wallet breach at $35 million, Fintoch at $31.6 million for its alleged<\/a> Ponzi scheme, and the exploit of a vulnerability in MEV Boost\u2019s software that led it to lose $26.1 million. These three accounted for a combined $92.8 million, almost half of the total losses in the quarter.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Tech, Technology<\/br>
\n<\/br>
\nSource:
https:\/\/techcrunch.com\/2023\/06\/28\/crypto-hack-scam-losses\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/28\/crypto-hack-scam-losses\/ Crypto losses halved in Q2 2023 to $204M 2023-06-28 21:50:10 As if the pessimism around crypto wasn\u2019t enough, the industry has historically been hounded by hackers and scammers looking to make a quick buck. To make things worse, it appears tracing and recovering lost funds is now getting harder than ever as attackers use […]<\/p>\n","protected":false},"author":1,"featured_media":36011,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17,8],"tags":[],"class_list":["post-36010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-technology"],"yoast_head":"\nCrypto losses halved in Q2 2023 to $204M - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/06\/28\/crypto-losses-halved-in-q2-2023-to-204m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto losses halved in Q2 2023 to $204M - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/06\/28\/crypto-hack-scam-losses\/ Crypto losses halved in Q2 2023 to $204M 2023-06-28 21:50:10 As if the pessimism around crypto wasn\u2019t enough, the industry has historically been hounded by hackers and scammers looking to make a quick buck. 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