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International Business Times
International Business Times
Business
Nica Osorio

Crypto Security On The Rise: 27.78% Year-On-Year Decline In Hacks, Scams

SEC Crypto Bitcoin PeckShield CertiK Chainalysis Cryptocurrency
crypto hacking concept (Credit: Bybit/flickr.com)

KEY POINTS

  • The cryptocurrency industry saw more than 600 major hacking incidents in 2023
  • Approximately $2.61 billion was lost due to these incidents, according to a report
  • The report said about $674.9 million were recovered from these stolen funds

The nascent cryptocurrency industry has demonstrated enhanced vigilance and security measures as it witnessed a significant drop in crypto-related scams and hacks last year, recording a 27.87% plummet year-on-year.

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