Q1 2023: $320M Lost to Hacks on BNB Chain & Ethereum

Q1 2023: $320M Lost Due to Ethereum & BNB Chain Hacks

In Q1 2023, hackers stole over $320 million from various blockchains, with BNB Chain experiencing the most incidents but Ethereum seeing the largest amount lost at $221 million. However, many hacked platforms have been able to recover a significant portion of the lost funds through negotiations with hackers, as seen with Euler Finance and Sentiment. Despite lower losses compared to previous quarters, events off-chain such as issues with Silvergate Bank and the depegging of USD Coin may have impacted the overall crypto industry, according to blockchain security firm CertiK.