Cryptocurrency-related projects lost more than $320 million during the first three months of the year as a result of attacks and fraud, according to a report from analytics company CertiK.
According to the document, the losses were significantly lower compared to the first and fourth quarters of 2022. Then, hackers stole $1.3 billion and $950 million, respectively.
According to analysts, this decrease could be due to external factors affecting the crypto sector as a whole, including the recent collapse of Silvergate Bank, Signature Bank and Silicon Valley Bank.
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During the reporting period, more than $31 million was lost as a result of 90 exit scams and around $222 million in 52 hacks using flash loans.
The most targeted network was BNB Chain, where 139 incidents were identified. Most of the losses were due to projects based on the Ethereum blockchain: $221.8 million.
According to the company analysts, 60% of the total amount of thefts came from the DeFi protocol Euler Finance.