Immunefi: Hacks-related Crypto Losses Fall 12%

A recent report from blockchain security firm Immunefi revealed a 12% decrease in losses from fraud and hacks in the crypto industry compared to the previous year.

In May, a total of $52 million was lost, a significant decrease from the $59 million lost in the same month last year.

This also marks a 28% decline from the losses recorded in April. These findings support the ongoing trend of decreasing losses from hacks and fraud in the Web3 sector.

In March, Immunefi released a report showing a 23% decline in losses for Q1 2021 compared to the previous year.

Furthermore, in April, CertiK reported the lowest losses ever recorded for the month. The report from Immunefi highlights two major incidents that accounted for the majority of May’s losses.