Hackers

The amount stolen through crypto hacks, along with the number of successful attacks, has seen a sharp decline in April.

The collective value of cryptocurrency compromised by hacking plummeted by 67% in April to $60.2 million. This marks a notable reduction in crypto attacks, representing the first significant decline this year.

The fall of 67% marks a sharp decline from the $187.6 million hacked in March, which pales in comparison to the $360.8 million worth of hacked digital assets in April, according to a May 1 X post by on-chain security firm Peckshield.

The monthly total of $60.2 million was stolen from 40 individual hacking incidents. Hacks and exploits have been among the main issues plaguing trust in cryptocurrencies along with mainstream adoption.

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Over $500 million worth of digital assets were lost to hacks and exploits in Q1 2024.

Hedgey Finance, a token infrastructure platform, has suffered two parallel exploits amounting to a total of $44.7 million worth of lost funds.

Hedgey suffered an exploit worth over $42.8 million Arbitrum (ARB) tokens on the Arbitrum network, according to an April 19 X post by on-chain security firm Cyvers. The attacker has already deposited part of the funds to the Bybit cryptocurrency exchange.

Earlier, Hedgey protocol was hacked for a total of $1.9 million worth of crypto on the Ethereum network, according to an X alert by Cyvers.

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