Cryptocurrency -Investors lost more than $ 300 million for scams, hacks and utilization in May, according to Blockchain safety company Certique.
The majority of these losses were related to coding vulnerability utilities that accounted for $ 229 million – an increase of 4,483% in April.
Phishing involving an attacker stealing a user’s trading account or wallet information accounted for $ 47 million of losses, while private key promise and price manipulation were behind $ 11.6 million and $ 1 million losses respectively.
“Our research revealed an interesting deviation in May: A significant increase in losses from code vulnerability that represented a majority of the exploited funds,” said Certik Senior Blockchain Security scientist Natalie Newson.
“It is important to point out that loss of coding vulnerability over the fast few years fell significantly. In 2024 million, 173 million were lost to code vulnerability compared to $ 1.3 billion in 2021.”
The biggest event of all in was the Cetus protocol exploitation that caused SUI to controversially set up blockchain as attackers did it with $ 225 million.
