Cryptocurrency industry suffered $68.3 million in security losses in May, down nearly 90% month-over-month

Odaily reports that blockchain security firm CertiK has released data showing that total losses in the crypto sector due to hacks, vulnerabilities, and scams in May 2026 amounted to approximately $68.3 million. This represents a nearly 90% decline compared to over $650 million in losses recorded in April, making it the third month this year with losses below $100 million. Among these, losses from phishing attacks totaled about $2.6 million.

In April, industry losses surged due to two major attacks on Drift Protocol and KelpDAO, which together accounted for approximately 95% of the month's total losses, making April one of the most severe months for losses in recent years.

The firm reminds that while large-scale protocol-level attacks have decreased, risks such as phishing attacks, deepfakes, and credential leaks are on the rise, with the focus of attacks gradually shifting toward personnel and identity systems. This decline in losses is solely due to the absence of major security incidents; the overall security risks in the industry have not been fundamentally eliminated. Cross-chain bridge vulnerabilities and insider threats remain major risks. (Financefeeds)