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On April 30, crypto security and auditing firm CertiK posted an April roundup of crypto exploits, scams and hacks, revealing total funds lost in April was $103.7 million, bringing the total year-to-date loss to $429.7 million.
The month was particularly marred with major crypto exploits, such as $25.4 million lost due to an exploit of several MEV trading bots on April 3, $22 million stolen in a hot wallet exploit at the Bitrue exchange and the hack of South Korean GDAC exchange leading to a loss of $13 million.
The total lost to crypto and DeFi exploits in the month amounted to $74.5 million, making up around half of the total $145 million exploited in the first four months of the year, according to CertiK.
The month also saw around $20 million lost to flash loan attacks, led mainly by Yearn Finance after a hacker exploited an old smart contract on April 13.
The blockchain security firm noted that total funds lost to exit scams reached $9.4 million in the month, with the top exit scam for the month being Merlin DEX, which lost $2.7 million. On April 26, CertiK reported that it was investigating a “potential private key management issue” at the exchange.
Furthermore, the exit scam occurred after the protocol was audited by CertiK, which warned about centralization issues. CertiK launched a compensation plan following the attack in which it urged the rogue developer to return 80% of the stolen funds with a 20% white hat bounty offered.
Related: One crypto wallet launched 114 dodgy memecoins in two months
According to De.Fi’s Rekt Database, there were over 50 crypto exploits, scams, hacks and rug pulls in April. Moreover, a large portion of them was memecoin rug pulls.
The most recent was the Polygon-based Ovix protocol, which lost $2 million in a flash loan attack on April 28.
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