Market Updates

ADVERTISEMENT

Events

Chain of Thoughts

Crypto Hacks Cost $75.9 Million in June as Humanity Protocol Tops Monthly Losses

Crypto projects lost $75.87 million to major security breaches in June, with 40 significant hacks recorded during the month, according to blockchain security firm PeckShield. While losses declined from $81.7 million in May, attackers continued to target bridges, DeFi platforms, and user accounts.

PeckShield’s latest report showed that Humanity Protocol suffered the largest attack in June, losing about $31 million. The security firm also said the stolen assets were mixed with funds linked to the KelpDAO exploit. 

Syscoin Bridge followed with losses of $10 million, while the JaredFromSubway.eth MEV bot accounted for another $7.5 million. Other notable incidents included attacks on Secret Network, Polymarket users, SecondFi, TESSERA, Taiko Bridge, and Raydium.

The report also highlighted separate attacks on Aztec Bridge and Aztec Connect, which together lost about $4 million during the same month.

Crypto’s current blockchain forensic tools are great, but the numbers still show they have a limitation 

Leading forensic platforms like Chainalysis, Elliptic, and TRM Labs have made progress in tracing stolen funds, but they remain constrained by adaptive criminal tactics and inconsistent regulations across jurisdictions. When funds move through mixers, DeFi swaps, and cross-chain bridges in quick succession, certainty drops and transaction paths become much harder to follow.

Key challenges include tracing pseudonymous transactions, the rapid evolution of blockchain-enabled crime, differences in regulations between countries, and limited forensic capabilities. June’s overlap between the Humanity Protocol attack and KelpDAO funds is a clear example of how quickly those limitations can appear in real cases.

Researchers have warned that cryptocurrency forensics is still struggling to keep pace with the speed of crypto adoption and increasingly sophisticated attacks. With 40 major hacks recorded in June alone, the gap between attackers and investigators is becoming more difficult to close.

Connecting blockchains has a cost the industry has not figured out how to pay

Linking different blockchains to each other was always going to create new risks. The more networks talk to each other, the more places exist for something to go wrong. June showed what that cost looks like in practice.

The losses were not random. They came from the same parts of the system that make moving assets between chains possible. The features that allow funds to move freely are the same ones that allow them to be taken freely.

The industry has not found a way to build these connections without building risk alongside them. Until that changes, growth across chains will keep coming with a price that projects and users end up paying.

 

Enjoyed this? Bookmark DeFi Planet, explore related topics, and follow us on Twitter, LinkedIn, Facebook, Instagram, Threads and CoinMarketCap Community for seamless access to high-quality industry insights.

Take control of your crypto portfolio with DEFI PLANET PRO, DeFi Planet’s suite of analytics tools.

ADVERTISEMENT

Editor's Picks

ADVERTISEMENT

Spotlight

Press Releases

Popular News

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00