Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
In May, $52 million was stolen with the majority of that being attributed to the Gala Games and SonneFinance hacks.Breaking Down the State of Hacking in 2024
Over $473 million worth of cryptocurrency has been lost to hacks and rug pulls across 108 incidents in 2024, according to a report by In May alone, $52 million was stolen, with the majority of that being siphoned out of Gala Games and SonneFinance, which were hacked for $21 million and $20 million, respectively. The total marks a 12% decrease compared to May 2023.
The decentralized finance market remains the key attack vector for hackers, whilst centralized finance companies did not witness a single attack in 2024, the report said.Ethereum experienced the highest volume of hacks, with 9 incidents representing 43% of the total losses. BNB Chain was in second with 19% of the total.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
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