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Cryptocurrency News Articles
QuillMonitor Reveals the Extent of Losses Caused by Hacks and Security Issues in May
Jun 03, 2024 at 09:18 pm
QuillMonitor, a Web3 Hacks & Vulnerability Analytics Tool developed by QuillAudits, recently released a report revealing the extent of losses caused by hacks
Cryptocurrency scams and hacks resulted in losses of over $54 million in May, according to a report by Web3 Hacks & Vulnerability Analytics Tool, QuillMonitor.
The report highlighted several incidents, including smart contract vulnerabilities, scams, and compromised private keys, that led to substantial financial losses for users and organizations in the crypto community.
Out of the 16 incidents reported in May, 10 involved smart contract vulnerabilities, further emphasizing the critical role of secure project code in safeguarding crypto assets.
The top five scams that impacted the crypto landscape in May are as follows:
These scams, combined with other hacks and incidents, brought the year-to-date losses to approximately $418.28 million.
The report serves as a reminder of the pressing need for vigilance and robust security measures in the rapidly evolving world of Web3.
Investors and stakeholders are advised to conduct thorough research, prioritize risk management, andّه adhere to best practices to navigate the crypto landscape safely and minimize the impact of potential scams and hacks.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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