CertiK Records Lowest Level of Damage from Hacks and Scams Since 2021
In April 2024, the total cost of cybersecurity incidents, including exploits and scams, reached $25.7 million. CertiK experts reveal that this is the lowest amount recorded since 2021. Losses resulting from cybersecurity exploits have decreased by a staggering 141% since March.
The majority of these losses can be attributed to hacks, with defi attacks accounting for $21 million in compromised funds. The FixedFloat project has been the primary target in this category, experiencing yet another hack earlier this month. The project team has confirmed that the same attackers responsible for compromising the project in February 2024 are behind this recent attack.
Exit scams rank as the second most costly type of exploit, resulting in a total loss of $4.3 million. Instant loans follow closely behind as the third most costly incident, with $129,000 compromised.
The experts also made note of the exclusion of crypto casino ZKasino from the report due to the unconfirmed nature of the rug pull. Currently, it is estimated that the suspected scam has caused a loss of $32 million. Allegedly, the ZKasino team collected 10,515 ETH during the ZKAS token presale. On April 20, the funds were transferred to another address, withdrawals were blocked, and the Telegram group was abruptly closed.
According to data from DefiLlama, as of April 1, the total losses from cryptocurrency hacks have exceeded $7.7 billion, despite a 23% decline in incidents during the first quarter of 2024 compared to the previous year. The data further reveals that defi protocols have suffered the most significant losses since 2016, with hackers successfully stealing $5.8 billion from defi over a span of seven years.
In related news, the notorious Lazarus Group hackers have introduced a new method for launching cyber attacks.
