According to the blockchain security firm, in May, the total amount stolen from the Crypto hacks decreased considerably compared to April, with the largest incident of 90% of the month.
The decline comes when the Crypto industry is carrying forward its efforts to stay ahead of hackers. Blockchain security firm Pecksheild Said In X Post on 31 May.
Most of the funds were frozen due to the biggest hack of the month
The most important of the month occurred on cetus decentralized exchange on 22 May, with $ 223 million in the user loss within 24 hours.
According to the blockchain security firm Dadb, the hackers exploited a defect in the most important bits (MSB) checks, allowing them to manipulate values for liquidity parameters by order of magnitude and to establish relatively large positions with keystrokes.
Pekshield reported that CETUS and SUI Network had a stolen fund of $ 157 million, about 71% of the total amount was stolen. Pekshild identified the second largest exploitation of the month as an $ 12 million attack on the Davi platform cork protocol.
According to cyber security firm Cyers, the Cork Protocol attacker used the exploitation to steal about 3,761 rapped stake ether (Wsteth), which was converted into Ether.
The last three of the five largest hacks for the month, a suspected DPRK-linked hack for three $ 5.2 million, an MBU token for $ 2.2 million, and a maplestory universe was exploited for $ 1.2 million.
Crypto industry enhances fight against hackers
This comes when the Crypto industry is increasing its efforts to protect themselves against bad actors.
On 31 May, the Coinlagraph reported that the Crypto Exchange Bitmex’s security team discovered the interval in the operation of a North Korean government-sponsored cyber crime network, which after investigating a counter-operation investigation into the organization, which highlighted the IP addresses, a database and trekking algorism.
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During the first quarter of 2025, hackers stole over $ 1.63 billion in cryptocurrency. Peckshield said that bybit was more than 92% of the total loss in exploitation.
The firm also reported that Crypto was lost to hack in more than $ 87 million in January, while a dramatic spike was seen in February up to $ 1.53 billion, mainly due to the bibit attack. The incident was one of the biggest crypto theft till date.
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