$2bn Stolen In Cryptocurrencies In 2023 – Report

December 27, 2023
$2bn Stolen In Cryptocurrencies In 2023 - Report

A report by De.FI, the security firm managing the REKT database, discloses that cybercriminals pilfered approximately $2 billion worth of cryptocurrencies in various cyberattacks in 2023.

This year’s loss shows a decline when compared to the $3.8 billion stolen in 2022, indicating efforts to address vulnerabilities within the crypto landscape.

Join our WhatsApp Channel

“This amount, dispersed across multiple incidents, underscores the ongoing vulnerabilities and challenges within the DeFi ecosystem,” De.FI stated.

The report listed notable heists this year, including breaches against Euler Finance ($200 million), Multichain ($126 million), BonqDAO ($120 million), Poloniex ($114 million), and Atomic Wallet ($100 million), among others.

READ ALSO: CBN Lifts Restrictions On Cryptocurrency Transactions In Banks

In corroboration, TRM Labs’ earlier report revealed $1.7 billion stolen in crypto as of mid-December 2023.

Despite potential December hacks, this year is anticipated to conclude with notably lower totals than 2022. TRM Labs highlighted that 2022’s staggering $4 billion from crypto hacks included major thefts like the $600 million attack on the Ronin Bridge connected to Axie Infinity.

Ari Redbord from TRM commented, “While we’re always one hack away from a record-setting year, the increased global focus on cybercrime might mitigate some criminal activities, crucial for the legitimate growth of the ecosystem.” TRM found that the top 10 hacks accounted for nearly 70% of all stolen funds this year, with infrastructure attacks contributing to about 60% of the total stolen.

Despite the decline in stolen funds, the persistent vulnerabilities and challenges within the DeFi ecosystem remain evident, urging continued efforts to enhance security measures in the crypto space.

emmmmmm
+ posts

Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.

Victor Ezeja

Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.

Ondo Governor Akeredolu Dies At 67
Previous Story

Ondo Governor Akeredolu Dies At 67

Akeredolu Death: Aiyedatiwa To Assume Office
Next Story

Akeredolu Death: Aiyedatiwa To Assume Office

Featured Stories

Latest from Business

CBN Further Raises Benchmark Interest Rate To 27.25%

CBN Holds Interest Rate At 27% — Fourth Time In 2025

The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has retained the monetary policy rate (MPR), the benchmark for interest rate, at N27 percent. Key Decisions: At the end of the 303th MPC meeting held on November 24th &
UBA FY 2024: Profit Rises To ₦766.6 billion, Declares N3.00 Kobo Final Dividend

UBA’s Pretax Profit Declines After 77% Drop In Net FX Income

In the first nine months (9m) of 2025, United Bank for Africa (UBA) grew its gross earnings by 2.95 percent to N2.46 trillion, surpassing the N2.39 billion generated in the same period in 2024. According to the company’s interim unaudited consolidated financial
Ondo Governor Akeredolu Dies At 67
Previous Story

Ondo Governor Akeredolu Dies At 67

Akeredolu Death: Aiyedatiwa To Assume Office
Next Story

Akeredolu Death: Aiyedatiwa To Assume Office

Don't Miss

New Study Names Best Place On Earth To Work Remotely

New Study Names Best Place On Earth To Work Remotely

Due to the advent of the COVID19 pandemic, people have

Nigerian Business Man Secures Deal With TMT, NFT Groups, Others

Nigerian business mogul, Dr. U. D. Williams who owns SPD