Ethereum Remains Most Exploited in 2023 Hacks

Despite a decrease in the frequency of cryptocurrency security incidents in 2023, Ethereum maintained its position as the primary target, enduring losses of $500 million due to hacks

Decentralized Finance (DeFi) hacks took the lead, contributing to 31% of total losses and 60% of incidents

While centralized exchanges followed with 20% of losses and 15% of incidents

With a resurgence in popularity, Non-Fungible Tokens (NFTs) encountered 12% of incidents and 5% of losses, with common issues including minting fraud, fake auctions, and intellectual property infringement

Ethereum bore the major brunt of these challenges, recording losses amounting to $487 million, with Polygon closely trailing behind, suffering $123 million in losses.