Crypto Hacks Take a Dip: What's the Catch?

In December, the crypto world saw a big drop in hacking losses. The total amount stolen fell to $76 million, which is a 60% decrease from November's $194. 2 million. This news comes from PeckShield, a company that keeps an eye on blockchain security. Even though the total loss went down, there were still 26 major hacks. One person lost a huge $50 million in an address poisoning scam. This is a sneaky trick where hackers send small amounts of crypto from a wallet that looks almost like a real one. They hope the victim won't notice the tiny difference and send money to the wrong address. Another big loss happened when someone lost $27. 3 million because of a private key leak in a multi-signature wallet hack. This shows that even with safety measures, hackers can still find ways in.The decrease in stolen funds is good news, but it's important not to let guard down. Users should stay alert and take steps to protect themselves from common scams and cyber threats. Some notable hacks in December included the Christmas Trust Wallet hack, where $7 million was stolen, and the $3. 9 million Flow protocol hack. The Trust Wallet hack happened because of a problem with the wallet's browser extension. Browser-based wallets are always connected to the internet, making them more vulnerable to certain attacks. To stay safe, experts recommend using a hardware wallet, which is an offline device like a USB drive, to store crypto private keys. This is one of the safest ways to keep digital assets secure. Also, users can avoid address poisoning scams by double-checking every character of the destination wallet's address instead of just glancing at it or selecting it from a transaction history list.