According to a Chainalysis report earlier this year, 2022 will be the year with the most cryptocurrency hacks in history, with an estimated $3.8 billion stolen, mostly from DeFi protocols and North Korea-linked attackers.
However, this figure appears to have decreased significantly in the first quarter of 2023. According to a May 21 report from TRM Labs, the amount stolen through cryptocurrency hacks in the first quarter of 2023 was lower than in any other quarter in 2022.
Notably, the average size of hacks has dropped by almost 65% compared to the same period last year. $10.5 million, up from nearly $30 million in the same quarter in 2022.