CryptoMediaClub
Thursday, August 28, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Ethereum

Here’s how much was lost to crypto hacks and exploits in Q1 2023

12.04.2023
A A
0
126
VIEWS
ShareShare

Hackers were able to gain access to more than $320 million in the first quarter of 2023 alone, according to on-chain data consolidated by blockchain security firm CertiK in its quarterly report.

The losses were significantly lower than in 2022’s first and fourth quarters, when hackers took around $1.3 billion and $950 million, respectively. According to CertiK, the low amount of losses may be linked to events happening off-chain that had an impact on the crypto industry as a whole, such as the issues with Silvergate Bank and the depegging of USD Coin (USDC) at the height of the Silicon Valley Bank collapse.

Out of the funds stolen within the quarter, over $31 million was lost to 90 exit scams, while more than $222 million was lost in 52 flash loan and oracle manipulation exploits. Regarding incidents and the amount lost per blockchain, CertiK highlighted that BNB Chain had 139 incidents, the greatest number for the quarter. Meanwhile, despite having fewer incidents, Ethereum had $221 million in losses, the most lost in Q1 2023.

Number of incidents and the amount lost in the first quarter of 2023 by blockchain. Source: CertiK

Despite being much lower than Q1 2022 and Q4 2022, the first quarter of 2023 was still met with hundreds of millions lost, with 60% coming from the recent Euler Finance hack. On March 13, the protocol was hacked through a flash loan exploit, leading to losses of over $195 million.

Related: Sandwich trading bots lose bread and butter in $25M exploit

While the amount lost to hacking looks enormous at a glance, a huge chunk of the funds was recovered through negotiations with hackers. On April 4, Euler Finance announced that it was able to recover around 90% of the lost funds after almost a month of back-and-forth negotiations with the hacker.

This trend has been witnessed in the space more frequently with other hacks following Euler’s example. On April 6, lending protocol Sentiment also recovered around $870,000 after giving a bounty of $95,000 to those responsible for taking almost a million dollars from the platform.

Magazine: Magazine: Huawei NFTs, Toyota’s hackathon, North Korea vs. Blockchain: Asia Express

Share10Tweet6ShareSharePin2

Related Posts

ProShares announces launch of short Ether-linked ETF
Ethereum

ProShares announces launch of short Ether-linked ETF

02.11.2023
0

ProShares, a major issuer of exchange-traded funds (ETF), announced the launch of the short Ether-linked ETF on Nov. 2.ProShares’s new...

Read moreDetails
Slumdog billionaire 2: ‘Top 10… brings no satisfaction’ says Polygon’s Sandeep Nailwal

Slumdog billionaire 2: ‘Top 10… brings no satisfaction’ says Polygon’s Sandeep Nailwal

02.11.2023
Top Swiss bank launches Bitcoin and Ether trading with SEBA

Top Swiss bank launches Bitcoin and Ether trading with SEBA

02.11.2023
Elon Musk slams NFTs but ends up arguing the case for Bitcoin Ordinals

Elon Musk slams NFTs but ends up arguing the case for Bitcoin Ordinals

02.11.2023
3 reasons why Ethereum price is down against Bitcoin

3 reasons why Ethereum price is down against Bitcoin

02.11.2023
Load More
Next Post
BNB Greenfield hits testnet, decentralized storage coming to BNB Chain

BNB Greenfield hits testnet, decentralized storage coming to BNB Chain

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Donald Trump’s Odds Surge Ahead of Kamala Harris on Polymarket, Prompting Manipulation Concerns

Donald Trump’s Odds Surge Ahead of Kamala Harris on Polymarket, Prompting Manipulation Concerns

10 months ago
Crypto Mining {Hardware} Gross sales ‘Triple’ in Russia as Moscow Teases ‘Mild Contact’ Regulation

Crypto Mining {Hardware} Gross sales ‘Triple’ in Russia as Moscow Teases ‘Mild Contact’ Regulation

8 months ago
Smart Contracts Go Live on Stellar, Kicking Off a “New Era” for the Network

Smart Contracts Go Live on Stellar, Kicking Off a “New Era” for the Network

2 years ago
Bitcoin price jumps in the wake of First Republic Bank crash

Bitcoin price jumps in the wake of First Republic Bank crash

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

The Sandbox Founders Exit as Animoca Assumes Full Control in Major Overhaul

CFTC Adopts Nasdaq Tool to Hunt Insider Trading in Crypto

Webull Launches Crypto Trading in Australia via Coinbase Prime

TOKEN6900 Presale Ending in 24 Hours: Murad Says SPX6900 Will Be Bigger Than Bitcoin, While It Takes Aim at Ethereum

Trump Goes All In on DOGE But Maxi Doge Is the Only Meme Coin That Actually Goes All In – 15 Hours Left

Investigation Reveals South Korean Lawmakers Are HODLing PEPE, XRP, BTC

Trending

Mastercard Launches Stablecoin Settlements in EEMEA
All news

Mastercard Launches Stablecoin Settlements in EEMEA

28.08.2025
0

Mastercard is introducing settlement options in USDC and EURC stablecoins for acquirers and merchants in the Eastern...

The 2nd Edition of the CoinFerenceX Decentralized Web3 Summit: Builders, Investors, and Developers Meet Again to Shape The Web Space

The 2nd Edition of the CoinFerenceX Decentralized Web3 Summit: Builders, Investors, and Developers Meet Again to Shape The Web Space

28.08.2025
Google Cloud Launches DLT Platform to Modernize Global Capital Markets

Google Cloud Launches DLT Platform to Modernize Global Capital Markets

28.08.2025
The Sandbox Founders Exit as Animoca Assumes Full Control in Major Overhaul

The Sandbox Founders Exit as Animoca Assumes Full Control in Major Overhaul

28.08.2025
CFTC Adopts Nasdaq Tool to Hunt Insider Trading in Crypto

CFTC Adopts Nasdaq Tool to Hunt Insider Trading in Crypto

28.08.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz