Cryptocurrency Users Lose Nearly $2 Billion to Scams, Rug Pulls and Hacks in 2023, Despite Improved Security Protocols
According to a report by security app De.Fi, cryptocurrency users lost nearly $2 billion to scams, rug pulls, and hacks in 2023, which is roughly half of the amount lost in the previous year. The reduction is largely attributed to improved security protocols, increased awareness within the community, and decreased activity in the market. However, the industry remains susceptible to security risks, as evidenced by the losses incurred by Ethereum, BNB Chain, zkSync Era, and Solana, among others. The most damaging attacks were access control exploits, followed by flash-loan attacks and exit scams.
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