Losses from crypto hacks drop 67% to $60m in April

In April, crypto scammers stole $60.2 million, down 67% from March.

According to PeckShieldAlert, April saw a noticeable decline in crypto attacks, marking the first significant decline in 2024. The 67% decline marks a sharp decline from $187.6 million. In total, hackers carried out about 40 attacks.

The biggest event in April was the hack of Hedgey Finance, a token infrastructure platform. On April 19, hackers stole approximately $47 million by exploiting a vulnerability in the contract to acquire Hedgey tokens on the Arbitrum network.

The second largest hack was the theft of $3 million worth of cryptocurrency from the Fix Float exchange due to a vulnerability in a third-party service provider used by the platform.

The third-largest attack on Grand Base netted hackers $2.67 million in digital assets; The fourth largest attack on Pike Finance resulted in a loss of $1.6 million in funds.

In total, more than $401 million in hacks and scams have been carried out in the crypto space since the beginning of the year; This was down 25.1% from the same period last year, when more than $536 million in hacks were discovered. According to Immunefi.

In April, $53 million was lost to hacking and fraud in 21 incidents, down 46% from April 2023, when cybercriminals stole more than $98 million in digital assets.