Normie

Memecoin

Lykke

DeFi

Net losses from cryptocurrency hacks and exploits in June fell 54.2% from May.
<h2 data-ct-non-breakable="true" id="losses-from-crypto-hacks-decline-in-june">Losses from crypto hacks decline in June</h2>
According to data from the crypto analytics firm PeckShield, approximately 20 hacking incidents were reported in the crypto space in June, leading to a net loss of nearly $176 million. This is a significant decrease of 54.2% from May when hackers made off with $385 million.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/c66626f9-7cdb-40cc-adf4-2a171a51d0a2.png" alt="" title="">
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 Source:&nbsp;<a href="https://x.com/PeckShieldAlert/status/1807662261148029227" target="_blank" rel="noopener nofollow">PeckShield</a>
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The BtcTurk crypto exchange exploit was the biggest hack for June, and the hackers got away with over $100 million in crypto assets, according to Peckshield data. 
Early estimates from onchain sleuth ZachXBT put the <a href="https://x.com/zachxbt/status/1804477409179361679" target="_blank" rel="noopener nofollow">losses</a>&nbsp;at around $55 million. The second-largest exploit involved centralized exchange Lykke, with $22 million in losses. The third-largest exploit was on decentralized finance (DeFi) lending protocol <a href="https://cointelegraph.com/news/uwu-lend-hack-20-million">UwU Lend, which suffered a $19.4 million loss</a>.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/2418bdc8-f8d9-4684-a06d-e1ae2aa37b32.png" alt="" title="">
 <figcaption style="text-align: center;">
 Crypto hack losses. Source: PeckShield
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Centralized exchanges took the top two spots in the rankings for the highest losses in June, followed by three DeFi protocols.
<h2 data-ct-non-breakable="true" id="centralized-exchanges-largest-contributor-to-exploits-this-quarter">Centralized exchanges largest contributor to exploits this quarter</h2>
May was the biggest month in terms of crypto losses in 2024 so far, with nearly $385 million in net losses from crypto hacks. The biggest single loss was from the May 31 <a href="https://cointelegraph.com/news/japanese-exchange-dmm-loses-bitcoin-private-key-hack">private key hack of crypto exchange DMM</a>, which drained $305 million worth of Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) from the exchange. 
February saw net losses of $360 million, while April saw the lowest number, with $60.19 million. 
Related: <a href="https://cointelegraph.com/news/memecoin-trader-loses-1m-normie-exploit">Memecoin trader loses over $1M following Normie exploit</a>
Despite a notable decrease in net losses from exploits in June, losses increased by 115% in the second quarter of 2024 compared with the same period in 2023. Q2 of 2023 saw $220 million in losses, with over $572 million lost in Q2 2024.
The majority of the quarter’s <a href="https://cointelegraph.com/news/crypto-losses-hacks-scams-113-q2-2024-572-million">losses were attributed to centralized exchange hacks</a>. This quarter, losses from centralized protocols and exchange exploits amounted to $401 million, or 70% of the total.
Losses from centralized exchanges have been higher this quarter. However, data indicates that only a very small fraction of all attacks against these exchanges were successful. The hacker exploited centralized platforms only five times this quarter, while decentralized protocols saw a total of 62 successful exploits.
Magazine: <a href="https://cointelegraph.com/magazine/crypto-voters-are-already-affecting-the-2024-presidential-election/">Crypto exposes sudden rift among Democrats months ahead of election</a>

Crypto hacks down by 54.2% in June, $176M lost in a month

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