TRM Labs, which conducts research on the blockchain market, shared up-to-date statistics on decentralized finance (DeFi) attacks in its new public report.
According to the report prepared by TRM Labs, cybercriminals carried out 40 different attacks in the first quarter of 2023. The hackers caused DeFi startups to lose $400 million as a result of their actions.
When comparing the first quarter of 2022 with today, the researchers found that the financial loss was 70% less. According to historical statistics, hackers embezzled $1.3 billion worth of crypto assets in Q1 2022. The amount of digital assets lost per attack also decreased from $30 million to $10.5 million in parallel.
Stolen Funds Are Now Recovered
Blockchain experts made a review on the recovered assets, as well as the size of the attack suffered by crypto platforms. While cyber attackers were reluctant to return the tokens they stole in the past, this situation has been reversed today.
TRM Labs researchers found that 50% of stolen funds were returned this year thanks to the hacked startup's "white hat hacker" solution. Some crypto projects that lost their funds promised that they would not question the remaining amount if the hackers gave back some of the tokens seized.