{"id":4133,"date":"2023-06-28T23:15:03","date_gmt":"2023-06-28T21:15:03","guid":{"rendered":"https:\/\/oxfordwisefinance.com\/blog\/crypto-losses-halved-in-q2-2023-to-204m\/"},"modified":"2024-11-29T18:11:16","modified_gmt":"2024-11-29T17:11:16","slug":"crypto-losses-halved-in-q2-2023-to-204m","status":"publish","type":"post","link":"https:\/\/oxfordwisefinance.com\/blog\/crypto-losses-halved-in-q2-2023-to-204m\/","title":{"rendered":"Crypto losses halved in Q2 2023 to $204M"},"content":{"rendered":"<div>\n<div>\n<h2>But it\u2019s getting more durable to trace and recoup misplaced capital<\/h2>\n<p>&nbsp;<\/p>\n<\/div>\n<div>\n<p>As if the pessimism round crypto wasn\u2019t sufficient, the business has traditionally been hounded by hackers and scammers trying to make a fast buck. And to make issues worse, it seems tracing and recovering misplaced funds is now getting more durable than ever as attackers use more and more refined strategies.<\/p>\n<p>According to a brand new report, solely $4.9 million was recovered of the $204.3 million the business misplaced to hacks, scams and rug pulls in Q2 2023, and that was considerably lower than the $6.9 million recovered in Q2 2022. However, the excellent news is that losses within the second quarter have been 55% narrower than in Q1 2023, when the business misplaced a whopping $462.3 million to hacks and scams, with the Euler Finance flash mortgage assault accounting for 42.4% of the primary quarter\u2019s losses, REKT\u2019s database confirmed.<\/p>\n<p>The report, by web3 \u201csuper app\u201d and antivirus answer De.Fi with supporting information from the REKT database, detailed that to date this 12 months, the business had recovered about $183 million, or practically 28% of the $666.5 million misplaced to scams and hacks.<\/p>\n<div id=\"attachment_2562845\">\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/financialpress.com\/wp-content\/uploads\/2023\/06\/localimages\/Screenshot-2023-06-28-at-6.19.12-AM.png?resize=1140%2C592&#038;ssl=1\" alt=\"A chart showing crypto funds lost and recovered in the first half of 2023 from De.Fi and REKT report\" width=\"1140\" height=\"592\" aria-describedby=\"caption-attachment-2562845\" \/><\/p>\n<p id=\"caption-attachment-2562845\"><strong><a href=\"https:\/\/oxfordwisefinance.com\/blog\/dexory-nabs-19m-to-bring-visibility-to-warehouses-through-analytics-and-autonomous-robots\/\">Image Credits:<\/a><\/strong> De.Fi, REKT<\/p>\n<\/div>\n<h2>Q2 noticed over 100 exploits<\/h2>\n<p>This quarter had 110 recorded circumstances of \u201cscams, exploits or unintended losses,\u201d the report said. The three largest circumstances have been the Atomic Wallet breach at $35 million, Fintoch at $31.6 million for its alleged ponzi scheme, and the exploit of a vulnerability in MEV Boost\u2019s software program that led it to lose $26.1 million. These three accounted for a mixed $92.8 million, nearly half of the entire losses within the quarter.<\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/financialpress.com\/2023\/06\/28\/crypto-losses-halved-in-q2-2023-to-204m\/\" rel=\"nofollow\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>But it\u2019s getting more durable to trace and recoup misplaced capital &nbsp; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":4135,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","pagelayer_contact_templates":[],"_pagelayer_content":"","iawp_total_views":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[249,142],"tags":[],"class_list":["post-4133","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-trends","category-finance-business","col-md-12"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Crypto losses halved in Q2 2023 to $204M - Blog - Oxford Wise Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/oxfordwisefinance.com\/blog\/crypto-losses-halved-in-q2-2023-to-204m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto losses halved in Q2 2023 to $204M - Blog - Oxford Wise Finance\" \/>\n<meta property=\"og:description\" content=\"But it\u2019s getting more durable to trace and recoup misplaced capital &nbsp; 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