đCrypto world took a $42.6M hit in May, but hey, we bounced back with a $96.2M recovery!đȘ Flash loan attacks were the main culprit, causing $20.7M in losses. Sonne Finance and TLN Protocol felt the sting the most.
đExploits also left a mark, accounting for $19.7M in losses. Gala Games, AlexLab, Pump Fun, GNUS.ai, and Orion were the major victims. Exit scams, though less common, still contributed $1.8M to the losses.
đInterestingly, flash loan attacks have been causing significant losses in odd-numbered months this year. February saw the most severe loss due to exit scams, totaling $58.3M.
đIn 2024 so far, over $473M worth of crypto has been lost to hacks and rug pulls across 108 incidents, according to Immunefi. DeFi market remains the prime target for hackers.
đŻIn May 2024, Ethereum and BNB Chain were the most targeted chains, representing 62% of total losses.
đWhat's your take on these stats? How can we make the crypto world safer? Share your thoughts below! #CryptoSecurity #DeFi #CryptoNews