Crypto Losses Reach $1.19B in First Half 2024

The first half of 2024 witnessed significant crypto losses, with CertiK's Web3 Security Report revealing losses of $1.19 billion due to phishing attacks and private key compromises. June alone saw a 54.2% decline in losses from May, with $176 million stolen across 20 incidents, the largest being the BtcTurk exchange hack, which accounted for over $100 million. Regulatory measures like the FIT21 bill in the U.S. aim to enhance consumer protections and foster innovation. Despite the drop in June, the second quarter of 2024 saw a 115% increase in losses compared to Q2 2023, totaling $572 million. Centralized exchanges were the primary targets, with the DMM Bitcoin hack in May being the most significant single incident, resulting in a $305 million loss.