Hackers cleaned the dust of the superpower country, 400 million dollars in a jiffy

Hackers Stolen America: Hackers have stolen over $400 million from crypto projects in the US in 40 attacks in the first quarter (Q1) of 2023. This information has been revealed in a new report. According to blockchain intelligence firm TRM Labs, the amount of money lost in the first quarter was 70 percent less than the same period in 2022. However, the amount lost was actually less than in any other quarter of 2022. Moreover, the average hack size in the first quarter of 2023 was $10.5 million in the same quarter of 2022, despite the same number of incidents (around 40) declining to around $30 million.

There was also an increase in recovery

More than half of all stolen funds have been recovered in the first quarter of 2023. According to the report, hackers are increasingly returning stolen funds in exchange for ‘white hat’ bounties from affected projects. In 2023, more than half of the funds stolen from the hackers were recovered. In particular, a hacker who stole $1.5 million from tender.fi in March returned the funds after receiving an $850,000 reward.

rapid investigation

The report also looked into possible reasons for the decrease in crypto attacks. Crypto hacking is receiving increased regulatory scrutiny, as evidenced by several high-profile enforcement cases. Cryptocurrency exchanges are tightening KYC/AML regulations, making it more difficult to redeem stolen coins. Furthermore, the report states that the industry has seen continued implementation of anti-money laundering standards by Virtual Asset Service Providers (VASPs) and increased efforts by law enforcement and regulators to go after bad actors and the use of blockchain intelligence tools. Have also seen increasing sophistication.