Alarming Data: Blockchain Security Threats on the Rise
PeckShield, an analytical platform, has presented alarming data on the state of security in the blockchain industry in its latest report. According to their information, in the first month of summer 2024, experts recorded approximately 20 hacker attacks, resulting in the theft of digital assets totaling around $176 million. This marks a significant decrease compared to the previous month, as in May 2024, losses from hacks amounted to $385 million, which is 54.2% higher.
Largest thefts of the month
In June 2024, the cryptocurrency exchange Btc Truck fell victim to a massive attack, resulting in assets being stolen amounting to over $100 million. This event marked the largest theft in the past 30 days. The second highest losses were experienced by the centralized exchange Lykke, where criminals stole nearly $22 million. The third place goes to the DeFi protocol UwU Lend, which incurred losses of $19.4 million.
General trends and statistics
Despite the decrease in the number of incidents in June, the second quarter of 2024 proved to be quite successful for cybercriminals overall. From April to June 2024, approximately $572.68 million was stolen as a result of hacks and fraudulent activities. This is 70% more compared to the first quarter of the current year and 112% more compared to the same period last year, according to analysts at Immunefi.
May 2024 was the most profitable month for hackers, with their «income» reaching a significant $385 million. However, it is worth noting that some cryptocurrency platforms were able to recover part of the stolen funds. In particular, crypto platforms Bloom, ALEX Lab, Gala Games, and YOLO Games managed to recover approximately $28.7 million after negotiating with the criminals.
Security enhancement measures
Against the backdrop of significant losses and growing threats, cryptocurrency companies are increasingly taking measures to enhance their security. In June 2024, the Bitget exchange entered into a partnership agreement with a leading KYC solutions provider, Sumsub. This collaboration aims to increase the level of user protection and improve measures to prevent fraud and hacks.
Thus, the cryptocurrency industry is facing increasing threats and challenges, highlighting the need for stricter security standards and continuous improvement of cybersecurity systems.
