The cryptocurrency ecosystem saw a spike in breakouts in June as the market was circling a bearish zone.
According to data provided by PeckShield, hackers stole $176.2 million from crypto platforms in June, recording a 54.2% decrease compared to $574.6 million in May.
The data shows that the lowest amount of breaches so far this year occurred in April, at $60.19 million. According to blockchain security company X’s publication, the total amount of cryptocurrencies lost to hackers this year has surpassed the $1.5 billion mark.
The largest hack was of Turkish cryptocurrency trading platform BtcTurk, which was valued at $100.25 million. According to a crypto.news report on June 22, the company’s hot wallets were compromised, allowing attackers to compromise at least 10 different cryptocurrencies.
Furthermore, the second largest hack last month involved British cryptocurrency exchange Lykke, where hackers stole more than $22 million from the company.
UwU Lend, Holograph, and Velocore also made it to the top five with losses of $19.4 million, $14.4 million, and $6.8 million due to hackers in June, respectively.
According to a report by Immunefi, the cryptocurrency ecosystem lost $572.7 million to hacks and fraud in the second quarter of this year. 72 fraudulent incidents were recorded in the past three months.
According to Crystal Intelligence data, the crypto sector lost nearly $20 billion due to hacks and fraud between 2011 and March 2024. The total number of hacks reached 785.