Odaily Planet Daily reports that blockchain security firm CertiK released data showing that the total losses in the crypto sector due to hacks, vulnerabilities, and scams in May 2026 amounted to approximately $68.3 million, a nearly 90% decline from over $650 million in April. This marks the third month this year with losses below $100 million. Of this, losses from phishing attacks totaled approximately $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 devastating months for losses in recent years.
Institutions warn that while large-scale protocol-level attacks have decreased, risks such as phishing, deepfakes, and credential leaks are on the rise, with attackers increasingly targeting individuals and identity systems. The recent decline in losses is merely due to the absence of major security incidents; overall security vulnerabilities in the industry have not been fundamentally resolved, with cross-chain bridge exploits and insider threats remaining key risks. (Financefeeds)