In their report, analysts emphasize that the downward trend in losses continues. In the first quarter of 2024, the amount of lost funds decreased by 23% compared to the same period last year.
Most of the losses were caused by two hacks – the Gala Games gaming protocol was hacked for approximately $21 million, and a vulnerability in the smart contracts of the DeFi project Sonne Finance led to a loss of $20 million. In general, these two incidents accounted for 78% of the total volume lost in May funds.
All attacks were carried out on decentralized protocols; no attacks on centralized sites were recorded. Ethereum and BNB Smart Chain remain the most popular among hackers – 62% of incidents occurred on these networks. At the same time, fraud took a small share of the total loss – $1.7 million.
Let us recall that during the hacking of the Gala Games platform, the hacker managed to steal assets worth $240 million, but he was able to sell only a small part of the tokens.
Source: Bits
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