Crypto market loses $486M in July, most since 2022: Report

With a present reported healing total of just $6.15 million, almost 99% of all cryptocurrency and digital possessions taken in the month of July remain unrecovered.According to a document shared with Cointelegraph, the researchers at De.Fi think not adequate is being done to recuperate lost funds rapidly:”Regrettably, the recovery efforts in July 2023 were woefully insufficient, with just $6,796,915 recouped from the vast $486.35 million lost.”Per the report, the large majority of losses took place on the Ethereum network, with $447 million lost across 36 cases– including the Multichain hack, which included $231 million, and the Alphapo exploit, which cost around $100 million. Rugpulls, with over 38 reported cases, resulted in losses in the amount of about $36 million, and reentrancy attacks led to about $78 million in losses.The De.Fi groups report did contain one intense note, nevertheless: There were no reports of exit frauds for the month of July.