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

The cryptocurrency market is having its worst month of 2023. Losses for July totaled $486 million, more than six times the total from 2022.

Losses by chain in July 2023. Source: De.Fi

The vast majority of losses occurred on the Ethereum network, with $447 million lost across 36 cases — including the Multichain hack, which involved $231 million, and the Alphapo exploit, which cost around $100 million.

The next-closest network was Base, which saw $23 million lost in a single case. Binance took third with a reported loss of nearly $11 million over 18 cases.

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