April Records Lowest Crypto Hack and Scam Losses Since 2021: CertiK
As April concludes, the cryptocurrency industry experienced a major downturn in combined losses from hacks and scams, reaching the lowest recorded figure, as highlighted by security firm CertiK.
The month saw the lowest combined losses from crypto-related hacks and scams, with CertiK reporting approximately $25.7 million lost to exploits, hacks, and scams. The latest figure marks the lowest recorded since CertiK began tracking such incidents in 2021, as flash loan attacks and private critical hacks decreased
April Sees Significant Decrease in Crypto Losses from Hacks and Scams
According to the report, only $25.7 million was lost in attacks throughout the month, marking the lowest amount since CertiK began tracking such data in 2021.
The firm highlighted that April’s total losses represented a 141% decrease from the previous month. Breaking down the figures, CertiK reported that approximately $21 million was attributed to exploits, with only three breaches exceeding $1 million in damages.
Flash loan attacks accounted for $129,000 in losses, with the largest incident causing $55,000 in damages. This marked the lowest incidence of flash loan attacks since February 2022, and $4.3 million was lost to exit scams.
The decline was primarily attributed to a reduction in private vital compromises. In March, 11 attacks against protocols via private key compromises were reported, whereas April witnessed only 3 such incidents.
Despite the overall positive trend, several major hacks and scams still occurred during the month, resulting in substantial losses. For instance, memecoin Con domSol’s presale address on the Solana network was exploited, causing approximately $933,000 in losses for unsuspecting users.
