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Crypto Losses Drop 40% in May Despite Major Attack on Cetus
In May, the total losses across crypto projects reached $244.1 million, marking a nearly 40% decrease compared to the previous month, according to PeckShield. The most significant incident was a $223 million attack on the decentralized exchange Cetus on the Sui network. Nonetheless, blockchain validators managed to freeze $163 million worth of assets on two addresses linked to the hacker. The community has already approved an emergency protocol update that will facilitate the recovery of funds to compensate users.
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AI Analysis
The decrease in total losses among crypto projects in May suggests an improving security landscape or better risk management by projects, even amid significant attacks. The attack on Cetus, a decentra...
AI Recommendation
Investors should remain cautious yet optimistic, recognizing the industry's progress in handling security incidents. It is advisable to monitor ongoing protocol upgrades and community responses to suc...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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