Cryptocurrency losses resulting from hacks and scams fell by $452m in the first quarter of 2023, De.Fi, an antivirus and app provider firm, has disclosed.
In its latest report, titled ‘Report: $452m Lost in Crypto in Q1 2023. New Trends of Hacks and Scams’, the firm stated that this was a 65.23 per cent decline from the $1.3bn recorded in the corresponding period in the prior year.
The report states that crypto losses mounted to a nine-figure amount in March, for the second in a row. It said $215m was lost in March alone.
The firm noted, “Out of the $452m lost in Q1, a total of $215m was lost in just the first 20 days of March, underscoring the rapid pace at which scammers have been operating in recent weeks.
“While these losses are staggering, they also mark a decrease as compared to the same period in 2022, wherein Q1 saw $1.3bn lost.”
It explains the biggest losses in Q1 were due to flash loan issues, which had been on
