CertiK Report Reveals $42.6 Million in Crypto Losses in May

• May’s crypto losses totaled $42.6M due to hacks, scams, and exploits.
• Gala Games suffered the largest exploit, losing $21.6M in May.
• Sonne Finance faced a $20 million flash loan attack, topping the list.

CertiK verified that in May, the crypto space lost a staggering $42.6 million from a multitude of hacks, exploits, and rug pulls. This sum is a tad higher than the $41.6 million loss in April.

According to CertiK’s study, exit scam losses in May amounted to $1.8 million, flash loans drained $20.7 million, and exploits siphoned off $19.7 million. Gala Games was hit the hardest in May over a $21.6 million scam. This topped the biggest exploit instances, followed by Sonne Finance, which suffered a $20 million loss.

Trees On Sol suffered a $1.11 million loss in exit scams in May; Pii Park followed with $490,000; Novamind with $123,019; and Arbalest with $91,520.

What’s interesting is, that flash loan attacks have resulted in notable losses in odd-numbered months this entire year. Each of January, March, and May had overall losses of $15.3 million, $21.9 million, and $20.7 million.

By contrast…

The post CertiK Report Reveals $42.6 Million in Crypto Losses in May appeared first on Coin Edition.