The cryptocurrency market saw a 70% reduction in attacks on token protocols and crypto projects in Q1 2023, compared to the same period in 2022, according to a TRM Labs report. However, the industry should remain vigilant against large-scale attacks and maintain proactive security measures amidst fluctuating hack statistics.
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Crypto Hacking Incidents Drop: A Temporary Success or Growing Security Trend?
The first quarter of 2023 saw a 70% drop in money stolen from crypto projects, with contributing factors including crackdown on hackers, legal sanctions, and anti-money laundering standards. However, TRM Labs analysts warn of a potential “rebound” in crypto hacks as the year unfolds, emphasizing the need for continued security efforts and regulatory measures.