🎉📉 Good news, crypto fam! We're seeing a 20% drop in losses from hacks & rug pulls in 2024, down to $473M from $595M in 2023. That's progress! 💪

- May 2024 alone saw a 12% decrease from May 2023, with losses at $52.4M.

- The main culprits? Gala Games & SonneFinance, losing $21M & $20M respectively.

- DeFi was the main target, but no major attacks on CeFis.

Hacks were the main cause of losses, with $50.6M lost across 14 incidents. Fraud events were less, causing losses of $1.75M across 7 incidents.

Ethereum and BNB Chains were the most targeted, accounting for 62% of total losses. Ethereum had the most attacks, with 9 incidents making up 43% of total losses. BNB Chain followed with 4 incidents, making up 19% of the total.

What are your thoughts on these trends? Let's chat in the comments! 👇 #DeFi #CryptoNews