According to CryptoPotato, CertiK, a leading blockchain security firm, has released a report indicating a significant decrease in losses from crypto-related scams and hacks as April concludes. The report reveals that approximately $25.7 million was lost to scams, exploits, and hacks in April, marking a 141% decline from the losses reported in the previous month. This trend suggests an increase in security within the cryptocurrency industry.
CertiK's detailed breakdown of the losses shows that around $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 positive sign for the cryptocurrency industry, especially given the substantial losses reported in previous years.
A report by Hacken, released in April, revealed that the crypto industry experienced a surge in hacking incidents during the first quarter of 2024, resulting in losses of over $824 million across 67 breaches. Hacken's report highlighted that these attacks primarily targeted high-profile individuals and projects, indicating a growing trend of malicious actors aiming at prominent 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 shows an improvement in the industry's responsiveness to such incidents, which can be attributed to measures such as bounties for returned funds and interventions by white hat hackers.
