“In the second quarter of 2024, $572.7 million in cryptocurrency was lost as a result of hacks and fraud. The main targets were centralized financial system platforms. 📉

Losses increased 70.3% from the first quarter and 112% from the same period in 2023.

Centralized financial platforms have become the main targets of attacks, accounting for 70% of total losses. While decentralized financial platforms accounted for only 30% of losses.

The two largest hacks in the second quarter contributed significantly to overall losses: Japanese trading platform DMM Bitcoin lost $305 million, and Turkish crypto exchange BtcTurk lost $55 million.

Hackings accounted for 98.5% of the total number of incidents.

A total of $26.7 million in stolen funds was recovered, representing just 5% of total losses in the second quarter of 2024."