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Crypto Industry Lost $176.2M to Hackers in June 2024 — PeckShield Report

1 July 2024
in Crypto, News
Reading Time: 3 mins read
109 2
Home News Crypto

Despite the overall bearish trend in the crypto market, June saw an uptick in exploitations within the sector.

According to a report from blockchain analytics platform PeckShield Alert, hackers stole $176.2 million worth of digital assets from cryptocurrency platforms in June. However, this figure represents a 54.2% decrease from May’s losses, which totalled $574.6 million.

The data reveals that the sector recorded the lowest amount of stolen assets so far this year in April 2024, at approximately $60.19 million, while June registered the second-lowest amount. Notably, 60% of these major hacks targeted decentralized finance (DeFi) protocols, while the remaining 40% affected centralized finance (CeFi) protocols.

#PeckShieldAlert June 2024 witnessed 20+ hacks in the crypto space, resulting in ~$176.2 million in losses. This marks a decrease of 54.2% from May 2024 (w/ ~$385m in hackers’ profits).#Top 5 Hacks:#Btctruk: $100.25 million (CeFi)#Lykke: $22 million (CeFi)#UwULend: $19.4… pic.twitter.com/83XzWf82kw

— PeckShieldAlert (@PeckShieldAlert) July 1, 2024

According to PeckShield, the top five platform hacks in June were BTCTurk ($100.25 million), Lykke ($22 million), UwULend ($19 million), Hologram ($14.4 million) and Velocore ($6.8 million). 

Meanwhile, blockchain security platform ImmuneFi recently published its report for Q2 2024, indicating that the crypto industry suffered losses of $573 million during this period. Of this total, $564,238,811 was lost to hacks across 53 incidents, while $8.4 million was stolen through fraud in 19 specific cases.

The ImmuneFi report highlighted a significant year-over-year increase, with Q2 2024 losses up 112% compared to Q2 2023, when hackers and fraudsters stole $265,481,519. The report also noted that CeFi protocols were the primary target, accounting for 70% of successful hacks.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

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Precious James is a seasoned forex and crypto trader who loves sharing insights through engaging and accessible content. When not analyzing markets, Precious enjoys quality time with their beloved dogs. This blend of expertise and personal passion adds a unique, relatable touch to Defi Planet's content.

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