
In April 2024, the cryptocurrency sector experienced a significant reduction in financial losses due to security breaches, with total losses amounting to approximately $25 million, marking the lowest monthly figure on record since 2021. This represents a 67% decrease from the previous month. The main contributors to these losses included exit scams at around $4.3 million, flash loans at approximately $129,000, and various exploits totaling about $21 million. Notably, the Poloniex hacker transferred about 501 BTC, valued at roughly $32 million, to three new addresses. The overall number of reported incidents was 37, with exit scams and contract vulnerabilities accounting for a significant portion of the total losses.
NEW: Crypto valuations pulled back in April 2024 but industry trends remained broadly favorable. Highlights included: 🅱️ The #Bitcoin halving 📢 #Ethereum rumbles 🏛️Legislative progress 🪙Stablecoins' market cap rose Read our recap for deeper analysis: https://t.co/6cDFdy6SBA https://t.co/zUx5NaAfM2
#Crypto hack losses plunge 67% in April to $60 million. https://t.co/vpQojyQaER
In April, crypto fraudsters stole $60.2 million, a 67% decrease from March https://t.co/dNAbSBM17S




