{"id":24423,"date":"2025-06-01T14:03:42","date_gmt":"2025-06-01T11:03:42","guid":{"rendered":"https:\/\/forklog.com\/en\/cryptocurrency-industry-faces-244-million-loss-from-may-hacks\/"},"modified":"2025-06-01T14:03:42","modified_gmt":"2025-06-01T11:03:42","slug":"cryptocurrency-industry-faces-244-million-loss-from-may-hacks","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cryptocurrency-industry-faces-244-million-loss-from-may-hacks\/","title":{"rendered":"Cryptocurrency Industry Faces $244 Million Loss from May Hacks"},"content":{"rendered":"<p>The cumulative losses for crypto projects from 20 recorded hacks in May amounted to $244.1 million. This figure is nearly 40% lower than the previous month, noted <a href=\"https:\/\/x.com\/PeckShieldAlert\/status\/1929000323454218316\">PeckShield<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/GsUvXd4aMAIYa3B.jpg-FastStone-Image-Viewer-7.9.webp\" alt=\"GsUvXd4aMAIYa3B.jpg-FastStone-Image-Viewer-7.9\" class=\"wp-image-259694\"\/><figcaption class=\"wp-element-caption\">Data: X.<\/figcaption><\/figure>\n<p>The largest incident was an attack on the pools of the decentralized exchange Cetus on the Sui network, with a potential <a href=\"https:\/\/u1f987.com\/en\/news\/hackers-drain-11m-from-cetus-pool-on-sui\">loss of $223 million<\/a>. However, blockchain validators froze assets worth $163 million on two hacker addresses.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/GsUvXd4aMAIYa3B.jpg-FastStone.webp\" alt=\"GsUvXd4aMAIYa3B.jpg-FastStone\" class=\"wp-image-259695\"\/><figcaption class=\"wp-element-caption\">Data: X.<\/figcaption><\/figure>\n<p>The Sui community <a href=\"https:\/\/u1f987.com\/en\/news\/sui-validators-approve-plan-to-restore-162-million-to-cetus-users\">approved<\/a> an emergency protocol update to recover funds for user compensation. The DEX team <a href=\"https:\/\/u1f987.com\/en\/news\/cetus-offers-hacker-6-million-for-return-of-20920-eth\">offered<\/a> the attacker $6 million for the return of 20,920 ETH, which had been withdrawn.<\/p>\n<p>Experts from Dedaub <a href=\"https:\/\/u1f987.com\/en\/news\/analysts-uncover-cause-of-cetus-hack\">explained<\/a> the Cetus hack as a vulnerability in the liquidity parameter checks of the automated market maker.<\/p>\n<p>On May 28, an unknown individual attacked the DeFi protocol Cork Protocol and <a href=\"https:\/\/u1f987.com\/en\/news\/hacker-extracts-12-million-from-cork-protocol\">stole $12 million<\/a> in cryptocurrency.<\/p>\n<p>The third-largest loss for the month was the hacking of an individual investor for $5.2 million, allegedly by hackers linked to North Korea.<\/p>\n<p>Earlier in the first quarter, cybercriminals <a href=\"https:\/\/u1f987.com\/en\/news\/immunefi-reports-worst-quarter-for-cryptocurrency-industry\">stole $1.64 billion<\/a> in 40 incidents.<\/p>\n<p>The majority of this sum was due to the February hack of the centralized exchange Bybit, amounting to <a href=\"https:\/\/u1f987.com\/en\/news\/bybit-exchange-suffers-1-46-billion-loss-in-hack\">$1.46 billion<\/a>. The United States Federal Bureau of Investigation <a href=\"https:\/\/u1f987.com\/en\/news\/fbi-confirms-north-korean-involvement-in-bybit-hack\">confirmed<\/a> the involvement of the North Korean group Lazarus Group in the attack.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cumulative losses for crypto projects from 20 recorded hacks in May amounted to $244.1 million. This figure is nearly 40% lower than the previous month, noted PeckShield. Data: X. The largest incident was an attack on the pools of the decentralized exchange Cetus on the Sui network, with a potential loss of $223 million. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24422,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[44,1252],"class_list":["post-24423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cybercrime","tag-reports"],"aioseo_notices":[],"amp_enabled":true,"views":"61","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/24423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=24423"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/24423\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/24422"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=24423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=24423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=24423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}