During April, cryptocurrency projects lost $103.7 million due to exploits, hacks, and exit scams. The cumulative loss since the beginning of 2023 amounted to $429.7 million, according to a report from the analytical company CertiK.
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
The largest April exploits included an attack on several trading MEV-bots with damage of $25.4 million, exploitation of the vulnerability of the Bitrue exchange hot wallet for $22 million and hacking of the South Korean platform GDAC for $13 million.
According to CertiK’s calculations, the total amount of losses from crypto and DeFi exploits for the month was $74.5 million.
Projects lost about $20 million due to attacks using flash loans. The main part of this amount came from the Yearn Finance DeFi protocol, the hacker of which used an old smart contract.
Cumulative losses from cryptocurrency exit scams reached $9.4 million last month. The biggest incident in April was the Merlin DEX case, which lost $2.7 million due to a problem with private key management. The hack occurred immediately after an audit by CertiK. Analysts, together with the exchange, presented a compensation plan for the victims.
According to database DeFi Rektin total, more than 50 crypto-exploits, scams, hacks and schemes occurred in April rug pull (mainly with mem-coins).
The latest incident last month was an attack on Polygon’s Ovix protocol using a flash loan, resulting in a $2 million loss.
Recall, according to CertiK, in the first three months of 2023, blockchain projects lost more than $320 million as a result of hacks and fraud.
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