A new BanklessTimes.com report details the havoc that scammers continue to wreak on the cryptocurrency sector.
The site has presented data indicating that crypto investors lost $667-million to different scams in the first half of 2023.
It also highlights the alarmingly low rate of recovering stolen funds. It reveals that those efforts have only managed to retrieve $183-million. That leaves $483,5-million, or 72,5% of the looted funds, potentially lost forever.
BanklessTimes’ cryptocurrency expert Alice Leetham believes the exploits are an indictment of the crypto sector’s security infrastructure. She says is concerning that nearly half a billion dollars are lost with no hope of recovery.