Crypto Losses Drop 90% in May to $68.3M, Down from April's $650M+ Due to Major Protocol Attacks

DRIFT-20.87%
According to CertiK data cited by BlockBeats on June 1, cryptocurrency industry losses from hacks, exploits, and fraud dropped nearly 90% in May to $68.3 million, compared to April's over $650 million. The May figure marks the third month this year with losses below $100 million. April's spike was driven by two major attacks: Drift Protocol suffered $285 million in losses and KelpDAO's infrastructure breach cost $292 million, together accounting for roughly 95% of April's total losses and making it the worst month since March 2022.
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