According to Web3 bug bounty platform Immunefi, the crypto industry lost $572.70 million to hacking and fraud in the second quarter. DMM Bitcoin and BtcTurk were the two largest vulnerabilities, causing $305 million and $55 million in losses, respectively. Losses for the quarter increased by 70.3% over Quarter 1's $336.30 million worth of vulnerabilities and by 112% over the second quarter of 2023. In the second quarter, hacking was the leading cause of losses, accounting for 98.5% of the total losses in 53 incidents, while losses from fraud, scams, and rug pulls accounted for only 1.5%, involving 19 specific incidents. Like Quarter 1, Ethereum and BNB Chain were again the most attacked networks. Ethereum suffered the most individual attacks with 34 incidents, accounting for 46.6% of all chain losses, followed by BNB Chain with 18 incidents, accounting for 24.7%.