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Crypto Losses Surge 695% in First Quarter – TechCrunch

There has been a “loss” of about $1.23 billion across the web3 ecosystem in the first quarter of 2022, according to a report by Immunefi


Falling crypto currency values could turn into downward selling spiral with few new buyers to provide price support.
Photo: Reuters

 

We’re a little over three months deep into 2022, and with each month it seems the scale of crypto exploits grows as the sector continues to expand, TechCrunch reported.

There has been a “loss” of about $1.23 billion across the web3 ecosystem in the first quarter of 2022, according to a report by Immunefi. That’s up 695% from the year-ago quarter’s losses of $154.6 million, data showed.

Read the full report: TechCrunch

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.