Crypto Hacks Are Down and Hackers Tend to Return Stolen Money: TRM Labs Report

05/22 23:20

According to a report by blockchain intel firm TRM Labs, crypto hacks have decreased by 70% in Q1 of 2023 compared to the same period last year. The average hack size has also reduced from $30 million in 2022 to $10.5 million this year. Additionally, hackers are increasingly returning stolen funds and settling for "white hat" rewards from exploited projects. This could be due to increasing regulatory attention on crypto hacks and high-profile enforcement cases, making it harder for hackers to cash out stolen coins. DeFi protocols remain attackers' favorite target, accounting for 82% of all crypto stolen in 2022 according to Chainalysis.

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