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Crypto Hacks Are Down and Hackers Tend to Return Stolen Money: TRM Labs Report


Johnivan0

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“The ability to trace and track stolen funds has just gotten better and better – not just by investigators using blockchain intelligence like TRM, but by sleuths on Twitter using open source tools – and has created an environment where hacked funds are being tracked publicly in real time,” TRM Labs’ head of legal and government affairs Ari Redbord.

“Malicious hackers are increasingly having difficulty off-ramping funds and are therefore settling for bug bounties. We are also seeing so-called ‘white hat’ hackers become more and more a part of the ecosystem and could be a helpful way for DeFi services to harden cyber controls," Redbord added.

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It's great to hear that crypto hacks are down and that hackers tend to return stolen money, as highlighted in the TRM Labs report. This indicates a positive trend towards improved security measures and increased accountability within the cryptocurrency ecosystem. It provides reassurance to individuals and businesses involved in the crypto space, fostering trust and confidence in the industry. The findings of this report reflect the collective efforts of security professionals and regulatory bodies in combating cybercrime, making crypto a safer and more reliable avenue for financial transactions.

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The TRM Labs report shedding light on the decrease in crypto hacks and the tendency of hackers to return stolen funds is a significant development. It showcases the effectiveness of enhanced security protocols and the growing resilience of the crypto industry. Such findings not only underscore the importance of robust cybersecurity measures but also instill a sense of relief among crypto investors and users. The report serves as a reminder that continuous vigilance, proactive measures, and collaboration among stakeholders are crucial in safeguarding digital assets and maintaining the integrity of the crypto ecosystem.

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On 5/25/2023 at 6:07 PM, Ayumi said:

It's great to hear that crypto hacks are down and that hackers tend to return stolen money, as highlighted in the TRM Labs report. This indicates a positive trend towards improved security measures and increased accountability within the cryptocurrency ecosystem. It provides reassurance to individuals and businesses involved in the crypto space, fostering trust and confidence in the industry. The findings of this report reflect the collective efforts of security professionals and regulatory bodies in combating cybercrime, making crypto a safer and more reliable avenue for financial transactions.

Absolutely! The decline in crypto hacks and the tendency of hackers to return stolen money, as highlighted in the TRM Labs report, is indeed a positive trend for the cryptocurrency ecosystem. It shows that the industry is making significant strides in enhancing security measures and holding accountable those involved in cybercrimes. This development is crucial for building trust and confidence among individuals and businesses operating in the crypto space. The collaborative efforts of security professionals and regulatory bodies deserve recognition for their contributions in making cryptocurrencies a safer and more reliable avenue for financial transactions. It's great to see progress being made towards a more secure crypto landscape!

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