The number of crypto attacks spiked during the first quarter, though the total losses accumulated over the span are down, according to a report by Web3 security platform Immunefi.

The two major exploits during the first three months of 2023 — ones that targeted Euler Finance and BonqDAO — accounted for $317 million of the $477 million seen during the quarter. 

The $477 million of crypto losses was considerably lower than the first quarter of 2022, in which roughly $1.2 billion was lost, according to Immunefi.