In the second quarter of 2024, the #cryptocurrency sector experienced significant financial losses due to hacks and scams, amounting to $573 million.

The breakdown of these losses includes several high-profile incidents. Notably, the report identifies the biggest single loss from the hack of a #DeFi protocol, which resulted in over $200 million in stolen funds. 

Other significant events involved phishing attacks, exploitations of smart contract vulnerabilities, and rug pulls, where project developers disappeared with investors' funds.
#cryptocurrency