• Crypto scams, exploits, exit scams, and flash loan attacks resulted in a total loss of $103 million during the month of April.
• The biggest contributor to this loss were two exploits that resulted in $25 million and $22 million being stolen respectively.
• Flash loan attacks also accounted for around $20 million of the total losses incurred during April.

Crypto Scams Result In Loss Of Over $100 Million In April

Crypto security and auditing firm CertiK has reported that crypto scams, exploits, exit scams, and flash loan attacks have resulted in a staggering loss of over $100 million during the month of April alone. This brings the total amount lost due to such activities during 2021 up to an estimated figure of $429 million.

Major Exploits During The Month Of April

According to CertiK’s April roundup report on crypto scams and exploits, it was found that MEV bots were exploited for around $25 million while hot wallet exploit at Bitrue exchange resulted in a theft of approximately $22 million. South Korea-based GDAC Exchange was also hacked with a reported theft of around 13$million. Furthermore, these three major incidents combined with other small ones account for an approximate amount of close to$74.5million being lost due to crypto and DeFi exploitations during the monthofAprilalone.

Flash Loan Attacks Lead To Loss Of Around$20 Million In April

CertiK’s report also highlighted that flash loan attacks were responsible for the loss of another estimated figure close to$20millionduringAprilitself. Yearn Finance suffered one such attack which saw hackers exploiting a bug resulting in a loss worth over 25$millionon13thofAprilthisyearitself. Apart from this major incident there were several other small ones as well which accountfor this hefty sum being lost through flash loansinAprilalone.

Exit Scams Accounted For LossOfAround$9MillionInApril

Exit scams like that of Merlin DEX cost victims around 9$million duringsuch scamswerethemostsignificantexitscamtocurrinAprilwhichendedupresultingina lossofover27$millions accordingtoCertiKreportoncryptoscamsandexploitsduringthemonthofApril alonetheirreportalsohighlightedthatCertiKwascarryingoutaninvestigationregardinga “potential private key management issue” at the exchange on 26thof lastmonth itselfwhichmayhavecontributedtothescamexitscamandalsoCertiKhadsuggesteda compensationplanandhadrequestedtheroguedevelopertoreturn80percentofthestolen fundswhileofferinga 20percentwhitehatbountyaswell


AsidefromthesemajorincidentsDeFiRecktdataalsohighlightedover50scamshacks cryptoeploitationsandrugpullstocurrduringthemothofApriltomajorityofthesebeing meme coin rug pulls Moreover therewerealsosomeotherprominentscamstohitthecryptoduringthe month likeSushiSwaplosingover3millionsdollarsworthofassetsduetoanattackbyahacker

Kategorien: Allgemein