Fri, May 31, 2024 at 20:12

• 

  Joy

  • Hey Annie!

  • Did you hear about the latest report from Immunefi?

  • It shows that crypto losses due to hacks and fraud have plummeted over the past year!🎉

  • 
• Annie

  • Oh, really?

  • That's interesting!

  • How much did the losses decrease by?🤔

  
• 

  Joy

  • Well, according to Immunefi, the financial losses amounted to $473 million so far in 2024, which is 20% less than the $595 million lost during the same period in 2023.📉

• Annie

  • Wow, that's a significant drop!

  • What about this month?

  • How did May 2024 fare?📅

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Joy

  • In May 2024, the crypto space saw 21 specific incidents of hacks and frauds causing $52 million in financial losses.

  • This is a 12% drop from May 2023 and a 28% decrease from April 2024.📊

• Annie

  • That's quite a decline!

  • Which projects were hit the hardest?😮

  
• 

  Joy

  • The biggest financial hits were on Gala Games and SonneFinance, losing $21 million and $20 million, respectively.😬

• Annie

  • Oh no, that's a lot of money!

  • Were DeFi or CeFi more affected?🏦

  
• 

  Joy

  • DeFi was the main target for exploits in terms of funds lost, compared to CeFi.

  • High-profile attacks on Gala Games, SonneFinance, ALEX Lab, and Pump.fun led to this.

  • In contrast, CeFi didn't witness a single major exploit.😅

• Annie

  • That's surprising!

  • Did hacks or fraud cause more losses?🔍

  
• 

  Joy

  • Hacks caused way more losses than fraud.

  • Hacks accounted for 96.7% of the total losses in May, while fraud accounted for only 3.3%.😱

• Annie

  • Wow, hacks are really a big issue!

  • Which blockchains were targeted the most?🌐

  
• 

  Joy

  • Ethereum (ETH) and BNB Chain were the most targeted, accounting for 62% of the total losses across targeted chains.

  • Ethereum suffered the most individual attacks, with 9 incidents.😬

• Annie

  • That's a lot for Ethereum!

  • What about other blockchains?🧐

  
• 

  Joy

  • BNB Chain witnessed 4 incidents.

  • Base, Arbitrum, Solana, TON, Blast, Fantom, Optimism, and Polygon each suffered from 1 incident, each representing 4.8%, respectively.📉

• Annie

  • Got it!

  • So, overall, would you say this news is good or bad for the crypto market?📈📉

  
• 

  Joy

  • I'd say it's good news!🎉 The decrease in losses shows that the crypto sector is getting better at handling security issues.

  • 

  • This could boost investor confidence and lead to more growth in the market.🚀

  • To sum up, this article is considered a 😍Bullish for investors!!