Crypto Hack 2023: Total of $1.8 Billion Worth in Cryptocurrency Stolen, says Tracker

Isaiah Richard, Tech Times 27 December 2023, 11:12 pm

This year was massive in all sorts of things, but the crypto hack of 2023 is a notorious year for the industry, especially as it faced massive crimes and issues that companies and customers suffer from. A company tracking these hacks claimed that in this year alone, threat actors were able to steal as much as $1.8 billion from different platforms and companies, also affecting those who invested in the coins.

The world was promised that cryptocurrency and the blockchain's transactions are untraceable, as it does not leave a paper trail, but that is also one of its flaws as it is prone to getting hacked.

Crypto Hack 2023: $1.8 Billion Were Stolen by Hackers

(Photo : Jack Taylor/Getty Images)

TechCrunch shared a report from De.Fi stated the different trends that the cryptocurrency industry has experienced in this age, with the crypto hack in 2023 seeing a downward spiral for the many crimes.

This year, the report from the REKT platform from De.Fi, said that a total of $1.83 billion in crypto was stolen by many threat actors and groups.

The REKT platform reports and ranks the worst crypto hacks, and this year, the hack on the Mixin platform was one of the largest, amounting to around $200 million.

There is also the hack against Euler Finance where the hackers stole almost $200 million, followed by the Multichain breach with $116 million stolen, Poloniex with $114 million taken away, and more.

The Massive Crimes in Crypto History

It was reported that the top spot for the most significant thefts in crypto history was in 2022, with the infamous Ronin network breach where hackers were able to get away with as much as $600 million.

Still, there is good news this year, as this sees the safety measures employed by exchange platforms, with it seeing only $1.83 billion stolen, compared to last year's $3.8 billion and 2021's $3.1 billion.

Cryptocurrency Hacks of 2023

There are different types of crypto hacks in the world, and the most common is where threat actors steal from the company directly, accessing their systems and disabling their safety measures, and transferring the coins to other accounts. One of the top hacks this year was with HTX Global and Poloniex last November, with the hacks centering on links to Justin Sun's companies.

One of the other methods used by threat actors is through phishing scams and the use of malware to get a person's credentials to use as authentication whenever accessing wallets and more. Through this, users may not raise an alert to a user regarding their funds or holdings getting stolen, sending massive attacks through usual communication platforms and even random links.

The world's fondness for cryptocurrency is massive, and there are still many hopefuls in its progression and improvements in the future, contrary to others who believe that it will collapse. Despite everything the cryptocurrency went through this year, including the dwindling prices, as well as two executives facing jail, crypto theft has reached yet another all-time high, growing each year claims the report.