$23 Million Lost in Cryptocurrency Security Incidents Last Week, Warns Blockchain Security Firm
CryptoNewsTerminal Staff28 May, 2024
$23 Million Lost in Cryptocurrency Security Incidents Last Week, Warns Blockchain Security Firm
Blockchain security firm SlowMist has revealed in its weekly report (May 20th - May 26th), that approximately $23 million was lost due to cryptocurrency and blockchain security incidents last week. Some notable incidents include the Gala Games exploit where $12 million was stolen and the Normie cross-chain bridge compromise which resulted in $8 million being taken. SlowMist urged users to exercise caution when interacting with smart contracts and to only use reputable exchanges and wallets. They also emphasized the importance of implementing strong security measures such as using hardware wallets and two-factor authentication. The report highlights the ongoing need for robust security measures in the cryptocurrency industry, as malicious actors continue to target digital assets.
