Scams

Losses from hacks and scams reached their lowest level since 2022 when CertiK first started recording the data, with flash loan attacks and private key hacks decreasing.

April saw record-low crypto losses from hacks and scams, according to an April 30 report from blockchain security platform Certik seen by Cointelegraph. Only $25.7 million was lost in attacks over the course of the month, the lowest amount since CertiK started keeping track of this data in 2021.

According to the report, losses from hacks, exploits and scams were down 141% over the previous month. The decline is mostly due to the lack of private key compromises. In March, there were 11 attacks against protocols via private key compromises, whereas in April, there were only three.

Despite this good news for crypto users, some notable hacks and scams during the month caused losses of several hundreds of thousands or even millions of dollars. Memecoin Condom “advertised a presale address on the Solana network,” which was used to drain funds from unsuspecting users. A total of approximately $933,000 of crypto was lost in that attack.

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