{"id":78085,"date":"2023-05-01T10:46:34","date_gmt":"2023-05-01T07:46:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78085"},"modified":"2025-09-11T02:57:07","modified_gmt":"2025-09-10T23:57:07","slug":"losses-from-crypto-hacks-and-scams-in-april-exceeded-103-7-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/losses-from-crypto-hacks-and-scams-in-april-exceeded-103-7-million\/","title":{"rendered":"Losses from crypto hacks and scams in April exceeded $103.7 million"},"content":{"rendered":"<p>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.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/CertiKSkynetAlert?src=hash&#038;ref_src=twsrc%5Etfw\">#CertiKSkynetAlert<\/a> ?<\/p>\n<p>Combining all the incidents in April we\u2019ve confirmed ~$103.6M lost to exploits, hacks, and scams.<\/p>\n<p>Exit scams were ~$9.3M.<\/p>\n<p>Flash loans were ~$19.8M.<\/p>\n<p>See the details below ? <a href=\"https:\/\/t.co\/jflvMPiJGQ\">pic.twitter.com\/jflvMPiJGQ<\/a><\/p>\n<p>\u2014 CertiK Alert (@CertiKAlert) <a href=\"https:\/\/twitter.com\/CertiKAlert\/status\/1652625412948729861?ref_src=twsrc%5Etfw\">April 30, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Among the largest April exploits were <a href=\"https:\/\/forklog.com\/en\/news\/mev-bot-operators-lose-25m-in-exploit\">attack<\/a> on several MEV-bots with losses of $25.4 million, the exploitation <a href=\"https:\/\/forklog.com\/en\/news\/bitrue-crypto-exchange-hacked-for-about-23-million\">hot-wallet vulnerability<\/a> at the Bitrue exchange for $22 million, and <a href=\"https:\/\/forklog.com\/en\/news\/gdac-cryptocurrency-exchange-hacked-for-nearly-13-million\">hack<\/a> of the South Korean platform GDAC for $13 million.<\/p>\n<p>According to CertiK, the total losses from crypto and DeFi exploits for the month amounted to $74.5 million.<\/p>\n<p>Around $20 million of losses came from attacks using <a href=\"https:\/\/forklog.com\/en\/news\/what-are-flash-loans\">flash loans<\/a>. The bulk of this sum went to the <a href=\"https:\/\/forklog.com\/en\/news\/hacker-drains-11-6m-from-yearn-finance-defi-protocol\">DeFi protocol Yearn Finance<\/a>, whose hacker exploited an old smart contract.<\/p>\n<p>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 <a href=\"https:\/\/forklog.com\/en\/news\/merlin-dex-and-certik-pledge-2m-restitution-to-victims-of-the-hack\">compensation plan<\/a> for those affected.<\/p>\n<p>According to the De.Fi Rekt database, there were more than 50 crypto exploits, scams, hacks and rug pulls in April (primarily meme coins). <span data-descr=\"inflating the price of a token created in a liquidity pool with subsequent large withdrawals; subsequently other pool participants are left with devalued assets\" class=\"old_tooltip\">rug pull<\/span>.<\/p>\n<p>The latest incident in April was the attack on the <a href=\"https:\/\/forklog.com\/en\/news\/defi-protocol-0vix-hacked-for-2-million\">0VIX protocol<\/a> built on Polygon using a flash loan, which led to a $2 million loss.<\/p>\n<p>According to CertiK, in the first three months of 2023 blockchain projects lost <a href=\"https:\/\/forklog.com\/en\/news\/crypto-projects-lost-more-than-320-million-to-hacks-in-the-quarter\">more than $320 million<\/a> due to hacks and fraud.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In April, cryptocurrency projects lost $103.7 million due to exploits, hacks and exit scams.<\/p>\n","protected":false},"author":1,"featured_media":78086,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1204,44],"class_list":["post-78085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-certik","tag-cybercrime"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=78085"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78085\/revisions"}],"predecessor-version":[{"id":78087,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78085\/revisions\/78087"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/78086"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=78085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=78085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=78085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}