Crypto thefts for April resulted in over $100 million siphoned, adding to the already significant sums stolen this year. According to a recent report by blockchain security firm CertiK, crypto projects lost approximately $103.6 million to exploits, hacks, and scams for the month, bringing the total year-to-date (YTD) loss to $429.6 million.
Over $74M Lost to Exploits
Per the report, April was full of crypto exploits, with MEV Bots losing $25.3 million due to an exploit and Bitrue and GDAC suffering $22 million and $13 million loss, respectively, also because of an exploit. The total loss to exploits for the month amounted to $74.5 million, representing more than half of the crypto assets stolen during the month.
The report also revealed that flash loan attacks were common during the month. According to CertiK, roughly $19.9 million was lost to flash loan attacks, with Yearn Finance suffering the most single loss at $10 million.
Furthermore, the CertiK findings stated that the total crypto assets lost to exit scams amounted to $9.4 million in April, with the newly-launched decentralized exchange Merlin losing $2.7 million alone.
In an April 26 tweet, CertiK, who completed an audit of the DEX before its launch, blamed “rogue developers” for the attack. At the time, the security firm launched a compensation plan, urging the developers to return 80% of the stolen funds and keep the remaining 20% as a white hat bounty.
Crypto Thefts ContinuesÂ
Meanwhile, the latest report revealed the amount lost to crypto thefts during the month prior. For March, crypto projects lost $19.9 million to exploits, $8.9 million to exit scams, and a staggering $206.3 million to flash loan attacks.
These findings further raise concerns about the state of crypto security. While 2023 remains the year with the biggest crypto thefts, the trend has continued in 2022, with nearly half a billion worth of crypto already stolen from multiple projects in the first four months of the year.
