Crypto hack losses declined 51% in 2023: Report

Jan 03. 2023

By Ezra Reguerra

$1.8 billion in digital assets were lost across 751 security incidents in 2023. While the amount is still huge, it was 51% lower than in 2022, when losses to hacks and other incidents reached $3.7 billion. 

The data comes from blockchain security firm CertiK’s annual report titled “Hack3d: The Web3 Security Report 2023.” On Jan. 3, the security company compiled a document highlighting the state of Web3 security in the last year.

Within the report, the company noted that the third quarter of 2023 recorded the most losses at over $686 million. Furthermore, private key compromises continued to be the most costly attack vector. In 2023, over $880 million were lost to 47 incidents where private keys were compromised. 

Losses and security incidents by blockchain. Source: CertiK

When it comes to blockchains, the Ethereum network recorded the most losses. According to CertiK’s report, Ethereum saw $686 million in losses across 224 incidents. This put the blockchain at an average of $3 million per incident. On the other hand, BNB Chain recorded 387 security incidents. However, the total losses were only $134 million, much lower than Ethereum’s. 

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