Over half a billion dollars worth of cryptocurrency was stolen in the second quarter this year through hacks and scams, with two incidents making up the bulk of the stolen funds, according to a recent report by bug bounty platform Immunefi.
Crypto losses in Q2, 2024, totaled more than $572 million, the June report said. Over $564 million in losses were accounted for by 53 hacking incidents and the remaining $8.45 million by 19 fraud incidents. Hacking was responsible for 98.5 percent of losses, with fraud making up 1.5 percent. Two major hacking incidents in that quarter made up $360 million (62.8 percent) of the total losses.
