CertiK: April Sees Lowest Crypto Losses

As a researcher with extensive experience in the field of cryptocurrency security, I have closely monitored the reports released by CertiK regarding the decreasing losses due to hacks and scams in April. The data presented a significant decrease in total losses, with only approximately $25.7 million lost compared to the record-breaking $136.4 million in March.

In April, CertiK reported a significant reduction in cryptocurrency-related hacking and scam losses.

#Alert from CertiK: 🚨

— CertiK Alert (@CertiKAlert) April 30, 2024

As a crypto investor, I’d rephrase it this way: In April, CertiK experienced losses amounting to under $26 million, which is a significant decrease of 141% compared to the losses incurred in March. The realm of API security continues to advance, working tirelessly to fortify digital assets and eliminate hacking threats by safeguarding private keys.

In the past week, attacks utilizing flash loans resulted in over $129,000 in losses, with a single instance causing approximately $55,000 worth of damage – the smallest amount since February 2022.

As an analyst, I’d rephrase it this way: While the April statistics showed promising trends, I regret to report that there was a substantial setback in the first quarter with $336 million lost due to fraud and theft incidents, according to Immunefi’s findings. This represents a significant decrease from the previous quarter but underscores persistent security concerns in Decentralized Finance (DeFi).

Read More

2024-05-01 04:52