Cryptocurrency Losses Exceed $473 Million in 2024 Due to Hacking Incidents

According to Odaily, a report provided by security service provider Immunefi reveals that in 108 hacking incidents that occurred in 2024, over $473 million worth of cryptocurrency was lost. In May alone, $52 million was stolen, with the majority of the thefts occurring from Gala Games and SonneFinance. These two companies were robbed of $21 million and $20 million respectively. Compared to May 2023, the total number of incidents decreased by 12%. Despite the decrease in the number of incidents, the financial impact remains significant. The losses incurred by Gala Games and SonneFinance highlight the vulnerability of cryptocurrency platforms to hacking attempts. The report underscores the need for enhanced security measures within the cryptocurrency industry to prevent such losses in the future. The year 2024 has seen a surge in the value of cryptocurrencies, making them an attractive target for hackers. The report by Immunefi serves as a stark reminder of the risks associated with digital currencies and the importance of robust security systems to protect these assets.