April Sees 67% Drop in Crypto Hack Losses to $60 Million Amid Year-to-Date Decrease

In April, the cryptocurrency world witnessed a significant drop in losses from hacking incidents, with the collective value of compromised digital assets plummeting by 67% to $60.2 million, according to data from on-chain security firm Peckshield. This decline marks the first substantial decrease in crypto attacks for 2024, following a sharp increase in February and March, when $360.8 million and $187.6 million were stolen, respectively. The $60.2 million lost in April resulted from 40 individual hacking incidents. Among these, the largest was the $44.7 million hack on Hedgey Finance, where hackers exploited a vulnerability in the platform's token claim contract. Additionally, the Fixed Float crypto exchange suffered a $3 million theft due to vulnerability in a third-party service provider, while Grand Base and Pike Finance lost $2.67 million and $1.6 million, respectively, to hacking incidents. Despite these losses, data from crypto bounty platform Immunefi indicates a 25.1% decrease in total losses for the year compared to the same period in 2023, with April alone witnessing a 46% reduction in losses compared to April 2023.