Bitcoin and Cryptocurrency Hacks in June
In June, the crypto ecosystem experienced a surge in hacks, with hackers stealing $176.2 million from various platforms. This marked a decrease of 54.2% from the previous month’s total of $574.6 million, as reported by PeckShield. The largest hack occurred on the Turkish crypto trading platform BtcTurk, where $100.25 million was stolen. Other notable hacks included British exchange Lykke losing over $22 million and UwU Lend, Holograph, and Velocore losing significant amounts as well.
Impact of Hacks and Scams on the Cryptocurrency Industry
According to data from Immunefi, the crypto industry lost $572.7 million to hacks and scams in Q2 of this year. A total of 72 fraudulent incidents were recorded during this period. Crystal Intelligence reported that the industry has lost nearly $20 billion to hacks and scams between 2011 and March 2024, with a total of 785 breaches recorded. These incidents highlight the ongoing threat of cyber attacks in the cryptocurrency space.
