CryptoNews: According to a security firm TRM Labs report, attacks and hacks on cryptocurrency protocols experienced a significant decline in the first quarter of 2023, dropping by 70% compared to the same period in 2022. 📊
Despite a similar number of incidents , the average hack size decreased to $10.5 million in Q1 2023 from nearly $30 million in the same quarter of the previous year. TRM Labs also points out that victims of crypto theft were able to get back over half of their stolen funds in Q1 2023, a sign that these incidents can sometimes effectively turn into unofficial bug bounties.
TRM Labs cautions that the decline may be temporary, noting that a few large-scale attacks account for a significant portion of the stolen amount, leading to dramatic fluctuations month-to-month. Nonetheless, factors such as enhanced cybersecurity practices, stricter regulations, and increased collaboration among industry participants are believed to have contributed to the decline in crypto hacks this year, offering hope for a more secure future.I've been writing about Bitcoin since 2014.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Attackers Left Empty-Handed as Crypto Hacks Drop 70% in Q1 2023Attacks on token protocols and crypto projects dropped a staggering 70% in Q1 2023 compared to the same period last year when greed and market valuations ran rampant, a new report by security firm TRM Labs shows. By shauryamalwa
Read more »
107 arrests reported at 2023 Hangout Fest; total down from 2022Possession of controlled substance was by far the most common charge.
Read more »
Broadway's 1st season back since pandemic closures just wrapped, how did the Great White Way fare?Over the course of the 2022-2023 Broadway season, there were 11,506 performances.
Read more »
How hard is the Seahawks’ 2023 schedule compared to 2022?Seattle faced an easier schedule than expected in 2022.
Read more »
Priyanka Chopra Commits to a Nearly Naked Dress With an Extreme Side CutoutPriyanka Chopra stars in The Zoe Report's May 2023 cover story, wearing one striking side-cutout dress from Frederick Anderson's spring 2023 collection.
Read more »
WTI bears eye a continuation to test $70.50sWest Texas Intermediate, WTI, is currently trading at $71.93 and has traveled between a low of $71.03 and $74.33. Meanwhile, comments from Russia's oi
Read more »