The crypto market witnessed an unexpected twist in the first half of 2023, with an alarming surge in crypto hacks. Surprisingly, hackers started returning stolen funds, raising questions about their support for crypto growth by spotting vulnerabilities.

In Q1 2023, crypto attacks led to approximately $400 million in thefts across nearly 40 incidents, marking a significant 70% decrease from the same period in 2022. Interestingly, the total value stolen in Q1 2023 was lower than any quarter in the previous year, showing a pronounced decline compared to cryptocurrency price drops.

During Q2 2023, digital assets suffered a loss of over $300 million due to crypto hacks and exploits, with 212 security breaches reported. These incidents resulted in malicious entities extracting $313,566,528 from Web3 protocols, showcasing a 58% reduction in total losses compared to Q2 2022.