Attacks 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
Attacks on token protocols and crypto projects dropped a staggering 70% in Q1 2023 compared to the same period last year when greed and valuations ran rampant, a new report by security firm TRM Labs shows.
The average hack size also took a hit in Q1 2023 – to $10.5 million from nearly $30 million in the same quarter of 2022, even as the number of incidents was similar , TRM Labs said in its report. The cryptocurrency ecosystem has long been a target for hackers due to its inherent vulnerabilities. However, the significant reduction in crypto hacks during the first quarter of 2023 suggests that the industry has been actively addressing these challenges and implementing proactive security measures.
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