The amount of crypto stolen fell in the first quarter, but wallet holders are urged to remain cautious by blockchain firm TRM Labs.
Less than US$500mln was stolen in the first quarter of 2023, below any quarter last year.
The average hack size also dropped nearly 65% compared to the first quarter of last year, down to US$10.5mln from US$30mln.
However, TRM Labs, cited in website Cointelegraph, warned wallet holders not to get complacent, suggesting the fall in activity was a “temporary reprieve, rather than a long-term trend.”
“Unfortunately, this slowdown is most likely a temporary reprieve rather than a long-term trend,” TRM Labs said, adding all it takes is a few large-scale attacks to drive up the numbers.
Last year was the biggest ever year for crypto hacking, with an estimated US$3.8bn stolen, primarily because of protocols and North Korean attackers.
It isn’t just the crypto space that has suffered at the hand of hackers.
Capita, the outsourcing specialists, fell victim to a huge cyber-attack in March in which personal data was stolen.