April was a difficult month for crypto projects, with losses of $103.7 million due to exploits, hacks, and exit scams, as reported by CertiK’s analytical company.
This brings the cumulative losses since the beginning of the year to $429.7 million. The most prominent April exploits included a $25.4 million attack on several MEV trading bots, a $22 million Bitrue hot wallet vulnerability, and a $13 million hack on the South Korean platform GDAC.
CertiK’s calculations showed that the total amount of losses from crypto and DeFi exploits was $74.5 million.
Additionally, $20 million was lost due to attacks using flash loans, most notably from Yearn Finance’s DeFi protocol.
Exit scams also accounted for $9.4 million in losses, with the Merlin DEX case being the biggest at $2.7 million.
The De.Fi Rekt database reported over 50 crypto-exploits, scams, hacks and rug pull schemes (mostly with memecoins) in April.
