Recap Crypto Hacker Attack in June, Losses Reach $176 Million

Bittime - June 2024 was a dark month for the crypto world with more than 20 hacker attacks occurring. These attacks resulted in losses reaching $176.2 million, much greater than in May 2024 which was only around $385 million.

List of Hacker Attacks in June

Here are the top 5 hacker attacks in June 2024:

• Btctruck: $100.25 million (CeFi)
• Happiness: $22 million (CeFi)
• YourULend: $19.4 million (DeFi) - excluding $3.75 million from rug pull
• Holograph: $14.4 million (DeFi)
• Velocore: $6.8 million (DeFi)

Although the number of hacker attacks decreased compared to May, the value of losses actually increased. This shows that hackers are becoming more sophisticated in carrying out their actions and targeting platforms with greater value.

Types of Hacker Attacks in Crypto

Here are some types of hacker attacks that commonly occur in the crypto world:

• Theft of funds: Hackers steal funds from crypto platforms in various ways, such as exploiting vulnerabilities in the system, phishing, or social engineering.
• Rug pull: A scam where crypto project developers run away with investors' funds after launching their project.
• 51% Attack: Hackers took control of the blockchain network by controlling more than 50% of the network's computing power.

Tips for Protecting Assets from Hackers

As a crypto investor, it is important to always be aware of security risks and take steps to protect your assets. Here are some security tips:

• Store your assets in a secure crypto wallet.
• Use strong and unique passwords for all your accounts.
• Beware of phishing and social engineering.
• Stay up-to-date with the latest security news and information.

By following these tips, you can help protect yourself from hacker attacks and keep your crypto assets safe.

Impact of Hacker Attacks

This increasing number of hacker attacks has had a significant impact on the crypto world. Some of the negative impacts include:

• Declining investor confidence: Hacker attacks can make investors hesitate to invest in crypto because they are worried about the security of their assets.
• Hampered growth of the crypto industry: Uncertainty and security risks can hinder innovation and growth of the crypto industry as a whole.
• Stricter regulations: Hacker attacks could push regulators to impose stricter regulations on the crypto industry, potentially reducing freedom and innovation.

Prospects for Peace in the Crypto World

However, amidst the rise in hacker attacks, there are also efforts to increase security in the crypto world. Some of these efforts include:

• Security technology improvements: Cybersecurity companies continue to develop new technologies to protect crypto platforms from hacker attacks.
• Stricter security audits and testing: Crypto platforms are increasingly aware of the importance of regular security audits and testing.
• Investor education: Good education for crypto investors about security can help them recognize and avoid potential fraud.

By continuing to innovate in security technology and investor education, it is hoped that the crypto world can become a safer and more trustworthy environment for all parties.

Conclusion

The world of crypto is still in its infancy, and security is one of the biggest challenges to overcome. The hacker attack in June 2024 served as an important reminder of the importance of improving security across the crypto ecosystem.

Although financial losses due to hacker attacks decreased compared to the previous month, this cannot be interpreted as a positive trend. Cybercriminals continue to develop their techniques, so awareness and security improvements must continue to be increased.

Collaboration between crypto companies, security researchers, and regulators is urgently needed to build a safer future for the crypto world. Investors also play an important role by continuing to learn and implement good security practices.

By continuing to innovate and work together, a safer and more trustworthy future for the crypto world is not impossible. Investors can invest with greater peace of mind, innovation can develop more rapidly, and the crypto industry can reach its full potential.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via over. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

To be able to buy crypto assets at over, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet.

For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Study Complete Guide How to Buy Crypto on Bittime.

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