Monthly crypto losses from hacks and scams were the lowest on record in April: CertiK

Security • April 30, 2024, 7:58AM EDT

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Quick Take

CertiK reports that this month saw the least crypto-related losses from confirmed hacks, exploits, and scams since the blockchain security firm started tracking them.

As April draws to a close, the month saw the lowest combined losses from crypto-related hacks and scams, security firm CertiK noted.

“Combining all the incidents in April, we’ve confirmed ~$25.7m lost to exploits, hacks, and scams,” the blockchain security firm wrote in a post on X, adding: “The lowest figure we’ve recorded, dating back to 2021.”

CertiK further noted that April’s total loss represents a 141% decrease from the previous month.

Breaking it down, the firm said that roughly $4.3 million was lost to exit scams, $129,000 was lost to flash loans, and $21 million was lost to exploits — according to the incidents it confirmed.

In the first quarter of 2024, the industry has lost $336 million to hacks and fraud, according to Immunefi.

The amount of cryptocurrency funds stolen by hackers in 2023 was estimated at $1.8 billion, half of the $4 billion recorded a year prior.

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About Author

Adam is the managing editor for Europe, the Middle East and Africa. He is based in central Europe and was a managing editor and podcast host at the crypto exchange OKX's former research arm, OKX Insights. Before that, he co-founded BeInCrypto.com, which he elevated into one of the leading crypto media brands at its peak as the editor-in-chief. Earlier, he served as the editor-in-chief at Bitcoinist.com. Before joining the blockchain and crypto industry, he worked for Looper.com, Grunge.com and SVG.com. He tweets via @XBT002 and can be emailed at [email protected].