Cryptocurrency Security Incidents Cost $244M

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Published time: 6/2/2025, 8:00:22 AM (Asia/Tokyo)

📢 Important News

• In May 2025, significant cryptocurrency security incidents led to losses of $244.1 million, a 39.29% decrease from April. The Cetus protocol lost $220 million, with a 71% recovery rate. Other attacks included Cork protocol ($12 million) and a suspected North Korean hack ($5.2 million).
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• ZachXBT highlighted the need for stricter penalties for SIM swapping and social engineering fraud, criticizing lenient laws in Canada and the EU. He referenced a 17-year-old implicated in a $37 million SIM swap, emphasizing the challenges in addressing such cybercrimes.
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• El Salvador has increased its Bitcoin holdings by 8 coins, totaling 6,194.18 BTC valued over $644 million, reflecting its commitment to cryptocurrency as part of its financial strategy.
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• Ross Ulbricht's donation address received 300 Bitcoin valued at approximately $31.4 million recently.
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• On June 1, Binance announced upcoming adjustments to collateral rates for certain assets effective June 6, 2025, aimed at optimizing trading conditions.
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📊 Market

• Ethereum's price fell to $2,500 before recovering, with significant trading volume and concerns over potential sell-offs from institutional investors. It remains volatile around this critical support level amid global trade tensions.
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• FLOCK's price surged over 64% in 24 hours to $0.186 after being added to major exchanges. It topped trading volume on Bithumb, indicating heightened market engagement and notable liquidation activity.
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• Bitcoin achieved its Highest Monthly Close ever last night, reflecting strong market performance.
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• Bitcoin briefly fell below $104,000, currently at $104,057, while Ethereum dipped to $2,504, indicating significant market fluctuations.
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• Trump expressed outrage over the term 'TACO' during a press conference, which has gained traction on Wall Street. His trade threats have caused market fluctuations, but the U.S. stock market showed strong performance in May.
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⚖️ Policy & Regulation

• On May 31, the U.S. Trade Representative's Office extended exemptions related to its 301 investigation into China's technology practices, pushing the deadline from May 31, 2025, to August 31, 2025.
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• Talos, a digital asset technology provider, is facilitating institutional adoption of crypto by bridging traditional finance and the emerging crypto ecosystem, offering essential tools and services for large asset managers.
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