In June 2024, losses from cryptocurrency hacks and exploits saw a significant drop, recording a 54.2% decline compared to the previous month.
According to data from the crypto analytics firm PeckShield, around 20 hacking incidents occurred in the crypto space in June, resulting in a net loss of nearly $176 million. This is a substantial decrease from May 2024, when hackers stole approximately $385 million.
Top Hacks in June
Among the top five hacks in June, two centralized exchanges suffered the most significant losses, followed by three decentralized finance (DeFi) protocols.
Centralized Exchanges Lead in Losses
May 2024 was particularly challenging for the crypto industry, with net losses reaching nearly $385 million due to hacks. The largest single incident was a private key hack on May 31 at the crypto exchange DMM, resulting in a $305 million Bitcoin theft.
Earlier in the year, February experienced net losses of $360 million, while April saw the lowest number of hacks and losses, with $60.19 million.
Summary Review: While June’s decline in crypto hack losses is a positive trend, the industry continues to face substantial security challenges, especially within centralized exchanges and DeFi protocols.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
