According to blockchain security company CertiK, the amount of cryptocurrency-related frauds and exploits fell to a record low of $25.7 million in April, a 68% decrease from the previous month.
An analysis of the occurrences revealed that the majority of the losses—$21 million in total—came from attacks on blockchain systems.
Furthermore, consumers lost $4.3 million as a result of exit scams and rug pulls carried out by dishonest founders; flash loans made up a meagre $129,000 portion of the total.
In the meanwhile, CertiK informed that the notable drop in losses was brought about by the lack of private key compromises, which are usually the cause of large losses.
In April, there were just three of these events, compared to 11 in the business in March.
April did not, however, completely avoid controversy. The main focus was on ZKasino, a decentralised gaming site that took $33 million in Ethereum from its players and transferred it into Lido, a liquid staking pool, on its own.
3 Adventures more than $1 million
According to CertiK, only three breaches in April exceeded the $1 million threshold, suggesting some resilience in the ecosystem.
The most noteworthy event occurred at FixedFloat, a decentralised exchange. On April 1, a vulnerability on its Ethereum-based hot wallet caused the exchange to lose $2.8 million.
Interestingly, FixedFloat had lost $26 million due to a hack that occurred in February. The conversation verified that the same organisation was responsible for the April attack.
A private key leak resulted in a $2 million heist of the RWA tokenization platform Grandbase in a different incident.
The offender created an excessive amount of GB tokens, withdrew them, and traded them for ETH.
In the meantime, 13 rug pulls occurred in April, the most notable of which was CondomSol. Through a presale, it raised about $933,000, which it then gave to investors.
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