Crypto Hacks Dip In June 2024: PeckShieldAlert Revealed
A recent report from blockchain security firm PeckShieldAlert indicates a decrease in cryptocurrency exchange hacks compared to May 2024. While the overall number of hacks remains concerning, the stolen amount suggests a potential shift in hacker tactics.
PeckShieldAlert: Hacking Declines Signal Stronger Crypto Defenses
While the decrease in hacking activity is a welcome sign, the overall losses highlight the persistent vulnerability of the crypto space. The report underscores the need for robust security measures across CeFi and DeFi platforms to safeguard user assets.
#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
The cryptocurrency industry can breathe a sigh of relief, albeit cautious, as blockchain security firm PeckShieldAlert reports a significant decrease in hacking activity for June 2024. According to their X post, over 20 hacks targeted the crypto space, resulting in losses of approximately $176.2 million. This figure represents a welcome 54.2% decline compared to the staggering $385 million hackers profited from in May 2024.
While the decrease offers optimism, the report highlights the ongoing vulnerability of crypto platforms. Here’s a breakdown of the top 5 hacks identified by PeckShieldAlert:
Btctruk: This centralized finance (CeFi) platform suffered the most significant loss, estimated at $100.25 million.
Lykke: Another CeFi exchange, Lykke, fell victim to a hack resulting in losses of $22 million.
UwULend: This decentralized finance (DeFi) protocol lost $19.4 million, excluding $3.75 million recovered through arbitrage.
Holograph: DeFi platform Holograph was breached, leading to losses of $14.4 million.
Velocore: Rounding out the top 5 is DeFi project Velocore, which lost $6.8 million due to a hacking incident.
About PeckShieldAlert
PeckShieldAlert is a leading blockchain security company dedicated to protecting the cryptocurrency industry from cyber threats. They provide real-time monitoring and analysis of suspicious activities to mitigate the risk of hacks and scams.
The Future of Crypto Security
The cryptocurrency industry requires continued investment in security infrastructure and personnel to combat the evolving tactics of cybercriminals. Collaboration between blockchain security firms, platform developers, and regulators is crucial to fortify the crypto ecosystem and ensure a safe environment for all participants.
Note: This is not investment advice and is for analysis purposes only. Always DYOR before making any decisions.
