Crypto Hacks Decline Significantly in May, With 71% Recovery Rate

May saw a notable decrease in crypto hacks, with total losses dropping to $244 million after hitting over $400 million in April. However, the figure is still significant and highlights ongoing vulnerabilities within the cryptocurrency ecosystem. The most impactful incident involved the Cetus DEX exploit, which drained $223 million from the platform, accounting for nearly 90% of May’s total losses. Despite this significant loss, swift action by Cetus and the Sui Network facilitated a remarkable 71% recovery rate according to blockchain security firm PeckShield.