Ethereum Under Siege: Most Attacked Blockchain In 2024 Suffers 43% Of May's Crypto Losses
Portfolio Pulse from Aniket Verma
Ethereum was the most targeted blockchain by hackers in May 2024, accounting for 43% of total crypto losses. The network suffered 9 attacks, with a notable $21 million exploit on Gala Games. BNB Chain was the second most targeted, with 4 incidents. Overall, crypto losses from hacks and rug pulls have decreased by 20% year-over-year.
May 31, 2024 | 6:59 am
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NEGATIVE IMPACT
BNB Chain was the second most targeted blockchain in May 2024, with 4 incidents contributing to 62% of total crypto losses along with Ethereum.
BNB Chain's involvement in a significant portion of the total crypto losses may lead to short-term price declines due to security concerns.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Ethereum was the most targeted blockchain in May 2024, suffering 43% of total crypto losses. The network experienced 9 attacks, including a $21 million exploit on Gala Games.
The high number of attacks and significant losses could negatively impact investor confidence in Ethereum, leading to short-term price declines.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Gala Games suffered a $21 million exploit in May 2024, one of the most significant losses for Ethereum.
The $21 million exploit on Gala Games could lead to short-term price declines due to concerns over security vulnerabilities.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50