In May, major crypto hacks saw a significant decline, with 20 reported incidents resulting in $244.1 million in total losses, a 39.29% reduction from April. The largest hack occurred on May 22 at the Cetus decentralized exchange, resulting in $223 million being taken within a single day. Most of the stolen funds from this incident have been frozen, amounting to about $157 million. The second-largest exploit was on the Cork Protocol, which suffered a $12 million loss. Additionally, there were smaller hacks linked to DPRK, MBU token, and MapleStory Universe, totaling over $8.4 million combined. The decrease in hacking losses indicates that the crypto industry is enhancing its security efforts. PeckShield noted that prior incidents, like the Bybit exploit, had led to substantial losses, marking the first half of the year as particularly challenging for crypto security. The industry is pushing for improved protective measures against cybercriminals.

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