2024

Cryptocurrency

Sonne Finance

April

In a whirlwind month for the cryptocurrency world, May 2024 has been rocked by a staggering surge in hacks, sending shockwaves through the digital finance community. A report by PeckShieldAlert reveals a staggering 666% spike in breaches compared to April, with losses totaling a jaw-dropping $574.6 million. 
What’s more alarming is that hackers pocketed approximately $385 million of that sum, marking a chilling record in illicit gains. 
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 <a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#PeckShieldAlert</a> May 2024 witnessed ~30 hacks in the crypto space, resulting in ~$574.6 million in losses, w/ ~$385 million in hackers' profits. This marks an increase of about 666% from April 2024.<a href="https://twitter.com/hashtag/Top5?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Top5</a> Hacks: –<a href="https://twitter.com/hashtag/DMMBitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#DMMBitcoin</a>: $305 million –<a href="https://twitter.com/hashtag/GALAGames?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#GALAGames</a>: $212 million (hackers'… <a href="https://t.co/2n5YUaw3OQ" target="_blank">pic.twitter.com/2n5YUaw3OQ</a>— PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1796846243567874318?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 1, 2024</a>
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A big theft happened in the digital world where <a href="https://www.cryptotimes.io/2024/05/31/dmm-bitcoin-suffers-major-security-breach-48-billion-yen-lost/" target="_blank" data-type="link" data-id="https://www.cryptotimes.io/2024/05/31/dmm-bitcoin-suffers-major-security-breach-48-billion-yen-lost/" rel="noreferrer noopener">DMM Bitcoin lost a huge $305 million</a>, shocking investors. But amid all this chaos, there are stories of strength. Despite facing a $212 million breach, <a href="https://www.cryptotimes.io/2024/05/22/gala-games-recovers-22m-after-200m-token-exploit/" target="_blank" data-type="link" data-id="https://www.cryptotimes.io/2024/05/22/gala-games-recovers-22m-after-200m-token-exploit/" rel="noreferrer noopener">Gala Games managed to bounce back with $22.4 million</a>, showing how tough they are when things get tough. 
However, smaller players weren’t spared either. Sonne Finance finds itself counting losses to the tune of $20 million, while the Coinbase Account Drainer and a mysterious entity known only as “A Whale” suffered hits amounting to $18 million and $8.2 million respectively. 
As the cryptocurrency realm navigates turbulent waters, the resilience of its participants is put to the ultimate test, underscoring the imperative for robust security measures and heightened vigilance in safeguarding digital assets against the ever-evolving threat landscape.

Crypto Hacks Surge 666% & Losses $574.6 Million in May 2024

The Crypto Times

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