Crypto losses from fraud and hacks have seen a 12% YoY decrease, with a total of $52 million lost in May 2024, according to blockchain security firm Immunefi. This figure also represents a 28% decline from April's losses. The majority of these losses came from two major attacks - a $21 million hack on Web3 gaming protocol Gala Games, and a $20 million smart contract exploit against Sonne Finance. Ethereum and BNB Chain were the most targeted networks, accounting for 62% of all attacks. The report also highlighted that fraud accounted for a minor part of the losses, with only $1.7 million or 13.6% of the total losses.