April Records Lowest Crypto Losses in Years: CertiK
The decrease in losses suggests that security measures and risk mitigation strategies are becoming more effective over time.
The leading blockchain security firm, CertiK, released its latest report revealing a significant downturn in losses from crypto-related hacks and scams as April concludes.
Noting a notable decrease, CertiK stated April saw approximately $25.7 million lost to exploits, hacks, and scams. This figure marks a decline of 141% from the previous month’s losses, demonstrating a trend towards increased security within the cryptocurrency industry.
- Specifically, CertiK’s breakdown of the losses indicates that roughly $4.3 million was lost to exit scams, $129,000 to flash loans, and $21 million to exploits, based on confirmed incidents.
- This reduction in losses is a promising sign for the cryptocurrency industry, especially considering the significant losses reported in previous years.
- According to a report by Hacken released in April, the crypto industry faced a surge in hacking incidents during the first quarter of 2024 amidst a broader resurgence, which subsequently resulted in losses of over $824 million across 67 breaches.
- One of the crucial observations made by Hacken was that these attacks targeted prominent individuals and projects, reflecting a growing trend of bad actors aiming at high-profile targets.
- The blockchain security firm also reported that more than half of the stolen funds – nearly $444 million – were successfully recovered or frozen.
- This significant recovery effort demonstrated an improvement in the industry’s responsiveness to such incidents, attributed to measures such as bounties for returned funds and interventions by white hat hackers.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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