Cryptocurrency

2024

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Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/hack-incidents-shake-the-cryptocurrency-world-in-may/" data-wpel-link="internal">Hack Incidents Shake the Cryptocurrency World in May</a><br></p>
<p style="text-align: justify">We finished May and entered a new month. Last month, a series of significant events shook the <strong>cryptocurrency</strong> world. Among the most talked-about were undoubtedly the attacks, namely <strong>hack</strong> incidents. There’s no need to be pessimistic, but unfortunately, there was an increase in hack incidents targeting the cryptocurrency sector in May. Let’s look at what happened throughout the month and the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">financial</a> aspect of the issue.</p> 
<h2 style="text-align: justify" id="cryptocurrency-world-shaken-by-hack-incidents">Cryptocurrency World Shaken by Hack Incidents</h2> 
<p style="text-align: justify">It’s not easy; exactly 30 hack cases were reported in the cryptocurrency world in May. Of course, there is also a financial aspect to the issue. The amount is not small. There is a loss of nearly 575 million dollars. Besides the amount not being small, there is also a 666% increase compared to April.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-358406 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/hack.png" alt="" width="557" height="783"></p> 
<p style="text-align: justify">When the 385 million dollars seized by hackers are also taken into account, the extent of the damage becomes clearer. The most significant attack was the <strong>DMM <a href="https://en.coin-turk.com/the-impending-bitcoin-retreat-analyzing-market-movement-and-predictions/" data-wpel-link="internal">Bitcoin</a></strong> attack, which resulted in a loss of 305 million dollars. Losing such a large amount in just one incident means more than half of all losses.</p> 
<p style="text-align: justify">The second largest in terms of amount was the <strong>GALA <a href="https://newslinker.co/category/gaming/" target="_blank" rel="noopener" data-wpel-link="exclude">Games</a></strong> attack. The amount was 212 million dollars. A significant portion of the stolen funds was returned, at least providing some relief to the project. However, I believe the attacker has now fulfilled their retirement plans with this hack incident. After all, they were left with 22.4 million dollars.</p> 
<h2 style="text-align: justify" id="losses-in-other-hack-incidents">Losses in Other Hack Incidents</h2> 
<p style="text-align: justify">Another hack incident occurred at Sonne Finance. The project suffered a loss of 20 million dollars. Another incident targeted a mechanism called Coinbase Account Drainer, resulting in an 18 million dollar loss.</p> 
<p style="text-align: justify">Finally, an attack targeting a whale led to a loss of 8.2 million dollars. Although the amount is smaller compared to other major attacks, this incident still represents a significant financial impact and clearly shows that May 2024 was a particularly challenging month for the cryptocurrency industry. Let’s see what surprising developments we will encounter in the cryptocurrency world in June.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/hack-incidents-shake-the-cryptocurrency-world-in-may/" data-wpel-link="internal">Hack Incidents Shake the Cryptocurrency World in May</a></h5>

Hack Incidents Shake the Cryptocurrency World in May

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