Good day everybody,
Welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at the high level of hack in the Web3 space during the month of April, 2024.
Web 3 Hackers in April 2024
During the month of April 2024 the Web3 space saw a loss of over $53 million to hackers across 21 incidents. This marked a 46% decrease when compared to the month of March 2024. This comes from the latest report by the crypto-focused bug bounty platform Immunefi. The total amount lost to hacks amounted to $53,074,827 for the past month, with hacks and frauds accounting for these loses. However compared to April 2023 the figures have fallen, with $98,610,392 lost a year earlier.
One of the largest attacks during the last month was on Hedgey Finance, where $44.6 million was stolen. This shows how decentralized finance (DeFi) continues to be the main target for exploiters. Other high profile DeFi hacks included Grand Base ($2 million) and Wilder token ($1.4 million). There were no attacks on centralised finance (CeFi) during the month of April 2024.
Generally hacks are the main cause of losses compared to fraud, and this has accounted for losses of more than $50 million across 12 incidents in April. Fraudsters managed to take just above $3 million across 9 incidents during the same period of time. The two main targets in the last month were Ethereum and BNB, with 15 attacks taking place on Ethereum with 57.7% of all losses across chains on the network. BNB had a total of six attacks and had a 23.1% of the total losses. Arbitrum recorded two incidents, while Optimism, Polygon, and Solana witnessed one incident each.
The total losses in 2024 so far have accounted for up to $401,326,044. This is 25 less than the same time last year, when losses of $536.1 million were recorded. March of 2024 saw $133,235,200 of a loss, which fell to $53 million in April.
Have a great day.
Peace. CryptoGod-1.
Referral Links and Follow Me:
