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In April, crypto-scammers collected a “catch” of $103 million

by Vaibhav
May 1, 2023
in News
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In April, crypto-scammers collected a “catch” of $103 million
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  • These are the data of the CertiK report
  • Exploits played a special role here.
  • Let’s understand in detail

CertiK analysts have presented a traditional report on crypto scams.

#CertiKSkynetAlert 🚨

Combining all the incidents in April we’ve confirmed ~$103.6M lost to exploits, hacks, and scams.

Exit scams were ~$9.3M.

Flash loans were ~$19.8M.

See the details below 👇 pic.twitter.com/jflvMPiJGQ

— CertiKAlert (@CertiKAlert) April 30, 2023

In April, scammers earned $103.7 million from their “black” cases. They were especially successful in exploits. In total, since January, crypto users have lost assets totaling $429.7 million.

The biggest exploits

As we have already said, exploits are leading among crypto-losses. MEV bot hacks took the first place: they brought $25.4 million to hackers. It is followed by a $22 million hot wallet exploit on the Bitrue exchange.

According to CertiK’s calculations, the exploits caused a total damage of $74.5 million. This is about half of the total amount of hacks in 4 months.

Schemes associated with quick loans also carry a great danger. Hackers earned $20 million from them. The biggest incident of the month is related to the Yearn Finance project.

But among the TOP-5 ragpools, the project is in the lead, in which CertiK analysts themselves “lit up”. We are talking about DEX Merlin, who was robbed just a few days after the CertiK audit. But the protocol suffered not as a result of an attack, but because of the criminal programmers of the team who worked remotely from Europe. They robbed protocol pools and also held a fake public sale. In response, CertiK and Merlin put together a compensation plan for affected customers.

See also  South Korean exchanges Upbit and Bithumb under cloud investigation probe due to scandal with lawmaker
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