Crypto Hacker Theft Fell by Half to About $1.7 Billion This Year

The amount of funds crypto projects lost to hackers has declined by about half to around $1.7 billion so far this year, amid improved security measures and an uptick in law enforcement actions.

Even with any additional hacks in December, this year will likely “finish with significantly lower totals than 2022,” according to TRM Labs, which helps clients detect financial crimes. Last year’s tally of $4 billion from crypto hacks included a number of large thefts, such as a $600 million-plus attack on a blockchain network called Ronin bridge that was connected to the Axie Infinity game.

“While we are ...