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

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July’s crypto losses more than doubled 2023’s previous high of $217 million in March.

The cryptocurrency market is having its worst month of 2023, according to a report from Web3 outlet De.Fi shared with Cointelegraph.Source: Document shared with Cointelegraph, via De.Fia flurry of legistlative activityWith a current reported recovery total of only $6.15 million, nearly 99% of all cryptocurrency and digital assets stolen in the month of July remain unrecovered.

“Regrettably, the recovery efforts in July 2023 were woefully inadequate, with only $6,796,915 recouped from the vast $486.35 million lost.”

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The report comes on the heels of several high-profile hacks and exploits in the month of July and a flurry of legislative activity surrounding the nature of cryptocurrency and digital assets.

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