Losses from crypto hacks and scams in April exceeded $103.7 million

In April, cryptocurrency projects lost $103.7 million due to exploits, hacks and exit scams. The cumulative losses since the start of 2023 amounted to $429.7 million, according to a report by CertiK. 

#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

— CertiK Alert (@CertiKAlert) April 30, 2023

Among the largest April exploits were attack on several MEV-bots with losses of $25.4 million, the exploitation hot-wallet vulnerability at the Bitrue exchange for $22 million, and hack of the South Korean platform GDAC for $13 million.

According to CertiK, the total losses from crypto and DeFi exploits for the month amounted to $74.5 million.

Around $20 million of losses came from attacks using flash loans. The bulk of this sum went to the DeFi protocol Yearn Finance, whose hacker exploited an old smart contract.

Total losses from crypto exit scams last month reached $9.4 million. The largest incident in April was the Merlin DEX case, which lost $2.7 million due to a key-management issue. The hack occurred immediately after an audit conducted by CertiK. Analysts, together with the exchange, presented the compensation plan for those affected.

According to the De.Fi Rekt database, there were more than 50 crypto exploits, scams, hacks and rug pulls in April (primarily meme coins). rug pull.

The latest incident in April was the attack on the 0VIX protocol built on Polygon using a flash loan, which led to a $2 million loss.

According to CertiK, in the first three months of 2023 blockchain projects lost more than $320 million due to hacks and fraud.