Crypto Losses Hit Record Low in April 2024, Down 67% from March

May 1, 2024, 06:30 PM

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.