Crypto Security: Unmasking the Top Hacks and Trends in Digital Asset Security 2023

The latest trends and top crypto hacks of 2023; revealing the ongoing battle to secure digital assets.

Security remains one of the biggest challenges in the digital asset industry. In 2022 alone, the total value of crypto stolen through hacks amounted to $3.8 billion. While this figure is down 77% as of June 2023 compared to the same period last year, it is hard to ignore the imminent threats that hacks and scams pose to the larger digital asset ecosystem. Notably, protocols account for the majority of the hacks, with 82.1% of the funds compromised last year originating from this niche.

DeFi Llama On-chain metrics reveal that over $356 million was lost on the Ethereum blockchain in H1 2023, with the BNB chain following at a distant second with $29 million. However, at the same time, it is worth noting that the number of Ethereum builders complying with the United States Office of Foreign Assets Control sanctions has increased to 5 out of the top 6 Ethereum block builders, following the Tornado Cash sanctions last year.

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