According to CoinDesk: Crypto users lost nearly $2 billion to frauds, RUGs (rug pulls), and hacking attacks in 2023, demonstrating a significant decrease of around 50% from the previous year, according to an annual report from security application De.Fi.
The decline in losses has been attributed to the implementation of upgraded security protocols, an overall increase in anti-fraud awareness within the crypto community, and a general slowdown in market activity. Despite these improvements, the data confirms the continued presence of security threats in the crypto industry.
Ethereum, the blockchain with the largest number of active users and Total Value Locked (TVL), bore the brunt of these losses. It witnessed approximately $1.35 billion worth of losses distributed across roughly 170 incidents. Meanwhile, the BNB Chain incurred losses totaling $110.12 million in 213 separate incidents.
