As much as $2 billion worth of cryptocurrencies have been hacked in 2023. Which is known to be quite less than the previous year. Last year the amount of cryptocurrency hacking was worth $3.8 billion.
The most recent hacking incident occurred at Hong Kong cryptocurrency company Mixin. From whom $200 million worth of cryptocurrency has been hacked. In March, $197 million worth of cryptocurrency was hacked from cryptocurrency firm Elure Finance.
In December, $258 million in cryptocurrency was hacked from cryptocurrency firm HTX.
According to Blockchain Analytics, the incidence of cybercrime through cross-chain is increasing rapidly. Including the theft of crypto. About $35 million worth of cryptocurrency was stolen from a mobile application app called Atomic Wallet, which was used to store cryptocurrencies.
Last year, Chain Analysis, a blockchain firm, reported that around $3.8 billion worth of cryptocurrency was stolen in 2022. In 2021, this theft amounted to $3.3 billion.
That’s a staggering amount of money being hacked, and it’s wild to think that the total for 2023 is still so high despite being less than the previous year. The Mixin and Elure Finance hacks are especially alarming, with hundreds of millions being stolen. It’s a reminder of how risky the crypto space can be, even with all the advancements in security. Hopefully, companies and users will take more precautions moving forward to protect their assets from these increasingly sophisticated attacks.
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The numbers are staggering — and the threat is real.
Even though the total value of crypto hacks in 2023 dropped compared to the previous year, it still remains alarmingly high. Major breaches like the Mixin and Elure Finance attacks, which resulted in hundreds of millions of dollars being stolen, are stark reminders of how vulnerable the digital asset space can be.
Despite advancements in cybersecurity, these incidents show that hackers are evolving just as fast — if not faster. It’s a wake-up call for both companies and individual users to take stronger measures to safeguard their assets. In a space where innovation moves fast, so should security.
The numbers are staggering — and the threat is real.
Even though the total value of crypto hacks in 2023 dropped compared to the previous year, it still remains alarmingly high. Major breaches like the Mixin and Elure Finance attacks, which resulted in hundreds of millions of dollars being stolen, are stark reminders of how vulnerable the digital asset space can be.
Despite advancements in cybersecurity, these incidents show that hackers are evolving just as fast — if not faster. It’s a wake-up call for both companies and individual users to take stronger measures to safeguard their assets. In a space where innovation moves fast, so should security.
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