June Report Shows Hackers Successfully Pilfered 1762m Worth of Cryptocurrency
In June, amidst a downtrend in the market, the cryptocurrency sector experienced an uptick in security breaches. PeckShield’s analytics indicate that cybercriminals exfiltrated approximately **$176.2 million** from various digital currency platforms during this period, marking a significant **54.2% reduction** compared to the **$574.6 million** pilfered in May.
The data further reveals that April saw the year’s minimal hacking activity, with losses totaling around **$60.19 million**. According to a recent update from the blockchain security firm, the cumulative losses incurred by the crypto community due to such illicit activities have now eclipsed the **$1.5 billion** threshold.
In related news, Ethereum’s creator, Vitalik Buterin, has proposed methods to expedite transaction processing speeds.
The most substantial security compromise was suffered by the Turkish digital asset exchange, BtcTurk, with damages amounting to **$100.25 million**. As reported by crypto.news on June 22, the breach affected the exchange’s hot wallets, impacting a minimum of ten distinct cryptocurrencies.
Additionally, the British cryptocurrency exchange Lykke was the victim of the second most significant theft in the past month, with over **$22 million** stolen.
Other notable losses were reported by UwU Lend, Holograph, and Velocore, which faced hacker-induced financial damages of **$19.4 million**, **$14.4 million**, and **$6.8 million** in June, respectively.
A report by Immunefi highlights that the crypto ecosystem suffered losses amounting to **$572.7 million** due to hacks and scams in the second quarter of the year, with 72 incidents of fraud recorded over the last three months.
Crystal Intelligence’s data indicates that, from 2011 until March 2024, the cryptocurrency industry has been defrauded of nearly **$20 billion**, with the total number of security breaches reaching **785**.
In other developments, Sony has expanded its footprint in the cryptocurrency exchange domain with the acquisition of Amber Japan.
