The latest AvengerDAO report by security firms CertiK, Hashdit, Ancilia, and Salus reveals that the amount of cryptocurrency lost on BNB Chain experienced an 85% drop in 2023, breaking a three-year uptrend. The report highlights that losses on the BNB Chain had been increasing consistently since 2020 until reaching a peak in 2022 when over $1.1 billion worth of crypto assets were stolen. However, in 2023, the losses decreased significantly to $161 million. The report also notes a decrease in both hack and scam-related funds stolen on the BNB Chain, with a 91% decrease for hacks and a 54% decrease for scams in 2023. While the value stolen decreased, the report emphasizes an increase in hack and scam attempts, with a 96% increase in hacks and a 14% increase in scams compared to 2022. The BNB Chain Core Development Team attributes the reduction in funds lost to quick alerts generated by the decentralized autonomous organization (DAO) to warn the community about potential bad actors. The team mentions an increased number of "Red Alarms" and plans to expand partnerships with the AvengerDAO to further enhance the ecosystem's security. Read more AI-generated news on: https://app.chaingpt.org/news