{"id":83218,"date":"2024-07-01T11:17:07","date_gmt":"2024-07-01T15:17:07","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=83218"},"modified":"2024-07-01T11:17:18","modified_gmt":"2024-07-01T15:17:18","slug":"crypto-hacks-decrease-by-54-2-in-june-2024","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/crypto-hacks-decrease-by-54-2-in-june-2024\/","title":{"rendered":"Crypto Hacks Decrease by 54.2% in June 2024"},"content":{"rendered":"\n

There was a 54.2% decrease in net losses from cryptocurrency breaches<\/a> and exploits in June compared to May, which saw nearly $385 million in losses from crypto hacks.<\/p>\n\n\n\n

\"Crypto
Crypto Hacks Decrease by 54.2% in June 2024<\/figcaption><\/figure>\n\n\n\n

In June, the crypto space experienced approximately 20 malware incidents, resulting in a net loss of nearly $176 million, per data from the crypto analytics firm PeckShield. This represents a substantial decrease of 54.2% from May when hackers stole $385 million.<\/p>\n\n\n\n

\n

#PeckShieldAlert\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> 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<\/use><\/svg><\/span><\/a> 5 Hacks:#Btctruk<\/use><\/svg><\/span><\/a>: $100.25 million (CeFi)#Lykke<\/use><\/svg><\/span><\/a>: $22 million (CeFi)#UwULend<\/use><\/svg><\/span><\/a>: $19.4\u2026 pic.twitter.com\/83XzWf82kw<\/use><\/svg><\/span><\/a><\/p>— PeckShieldAlert (@PeckShieldAlert) July 1, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

According to Peckshield data, the BtcTurk crypto exchange exploit was the most significant breach of June, and the hackers could escape with more than $100 million in crypto assets.<\/p>\n\n\n\n

ZachXBT, a chain investigator, initially estimated that the losses would amount to approximately $55 million. Lykke, a centralized exchange, was the victim of the second-largest exploit, resulting in $22 million in losses. The third-largest exploit was on the decentralized finance (DeFi) lending protocol UwU Lend<\/use><\/svg><\/span><\/a>, which resulted in a $19.4 million loss.<\/p>\n\n\n\n
\"Crypto

Crypto hack losses. Source: PeckShield<\/figcaption><\/figure>\n\n\n\n

During June, centralized exchanges occupied the first two positions in the rankings for the steepest losses, with three DeFi protocols following in their wake.<\/p>\n\n\n\n

Centralized exchanges – The most Significant Contributor <\/h2>\n\n\n\n

Crypto losses in 2024 have been most significant in May, with nearly $385 million in net losses resulting from crypto breaches. The May 31 private key breach of crypto exchange DMM resulted in the largest single loss, the theft of $305 million in Bitcoin from the exchange.<\/p>\n\n\n\n

There were net losses of $360 million in February, while April recorded the lowest figure at $60.19 million.<\/p>\n\n\n\n

Although there was a substantial decrease in net losses from exploits in June, losses increased by 115% in the second quarter of 2024 when compared to the same period in 2023, and the second quarter of 2023 resulted in $220 million in losses, while the second quarter of 2024 saw a loss of over $572 million.<\/p>\n\n\n\n

Centralized exchange hacks were responsible for the preponderance of the quarter's losses. Losses from centralized protocols<\/a> and exchange exploits totaled $401 million this quarter, which accounts for 70% of the total.<\/p>\n\n\n\n

There has been an increase in losses from centralized exchanges this quarter. Nevertheless, the data suggests that only a fraction of the total attacks against these exchanges were effective. <\/p>\n\n\n\n

This quarter, the hacker only successfully exploited centralized platforms five times, while decentralized protocols experienced 62 effective exploits.<\/p>\n","protected":false},"excerpt":{"rendered":"

There was a 54.2% decrease in net losses from cryptocurrency breaches and exploits in June compared to May, which saw nearly $385 million in losses from crypto hacks. In June, the crypto space experienced approximately 20 malware incidents, resulting in a net loss of nearly $176 million, per data from the crypto analytics firm PeckShield. […]<\/p>\n","protected":false},"author":12,"featured_media":59192,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1406,19798,13113],"class_list":["post-83218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-exchange","tag-crypto-hacks","tag-peckshieldalert"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/09\/image-36.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=83218"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83218\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/59192"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=83218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=83218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=83218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}