Crypto Hacks Decreased by 53% in June; About $176.2 Million Lost
According to data on PeckShieldAlert, over 20 crypto hacks happened in June 2024, resulting in about $176.2 million in losses. The X account, run by the blockchain security firm PeckShield, provides real-time updates on cryptocurrency hacks and exploits, market analysis, security reports, etc.
While the June report indicates a significant loss, it is less severe than the amount lost in May, suggesting a slight improvement. The tweet added that the June report is 54.2% lower than May as hackers made away with about $385m.
Top 5 Crypto Hacks
The PeckShieldAlert update included the top 5 crypto hacks according to data analyzed by their team. The first on the list was the BtcTurk hack with a $100.25m loss. The crypto exchange known as one of Turkey’s biggest was hacked on June 22 and the hackers made away with assets from users’ hot wallets.
Second on the list was the Lykke attack, which caused a loss of about $22 million. On June 4, the perpetrators gained unauthorized access to the UK-based crypto exchange’s hot wallets and stole assets like BTC, ETH, Litecoin, Bitcoin Cash, and other altcoins.
Hackers targeted the UwU Lend protocol twice in June, successfully accessing its network. First, the hackers used a flash loan to swap USDe for other tokens, as a result, the price of Ethena USDe (USDE) and Ethena Staked USDe (SUSDE) went down, resulting in a nearly $20m loss. Three days later, on June 13, the same hacker stole another $3.7 million.
The fourth crypto hack on the PeckShieldAlert update resulted in about $14m in losses. On June 14, hackers exploited a vulnerability in the smart contacts of Holograph’s decentralized blockchain platform and stole its native cryptocurrency, HOLO, and some other tokens.
According to the June 2024 report of PeckShieldAlert, the crypto hack with the least loss was the $6.8 million Velocore hack. The decentralized crypto exchange was hacked on June 2, and the perpetrators stole ETH tokens from Velcore’s liquidity pools.
DMM Records $305 Million Loss in Crypto Hack
In conclusion, the crypto space continues to fall victim to the attacks of these malicious actors as the threat actors continually evolve and refine their tactics. Our team reported a major attack in which the Japanese crypto exchange DMM lost about 4,502.9 BTC (worth about $305 million at the time of the attack) due to a hack of its private key on May 30th, 2024.