In May 2024, DeFi hackers caused significant losses amounting to over $600 million through seven major hacks. The largest of these was a $304 million hack of DMM Bitcoin, primarily due to compromised private keys. Additionally, phishing attacks have been on the rise, with notable incidents including a $2.1 million loss from a fake app and another phishing transaction resulting in a $64,000 loss. The total losses from crypto hacks in May were almost double the combined losses from January to April 2024. According to the SlowMist Weekly Security Report (May 27 - June 2, 2024), one phishing attack resulted in the loss of 565.3 $ezETH-WETH-BPT. Security experts are urging crypto holders to adopt stringent security measures to protect their assets.