Crypto Sector Suffers $68.3M Losses from Scams in May 2026

In May 2026, the cryptocurrency industry experienced losses totaling approximately $68.3 million due to scams and exploits, marking a significant decline of nearly 90% from April's $650 million. The losses stemmed from 60 confirmed incidents, with phishing attacks accounting for about $2.6 million. Major incidents included the Verus Protocol attack, which resulted in $11.5 million lost, and THORChain, which lost $10.1 million. The report from CertiK indicates that while large-scale attacks have decreased, risks from phishing and credential leaks are on the rise. Funds recovered during this period amounted to $9.4 million, representing about 13.7% of the total losses. The data highlights a shift in attack vectors, with code vulnerabilities being the primary target. This trend reflects a broader concern about the security landscape in the crypto sector.

Key Points: • Total losses in May 2026 reached $68.3 million, a 90% drop from April. • Phishing attacks accounted for approximately $2.6 million of the losses. • The Verus Protocol and THORChain attacks were the largest incidents, causing $11.5M and $10.1M losses, respectively.