The post April’s Crypto Wake-Up Call: $364M Lost to Scams, Hacks & Phishing appeared first on Coinpedia Fintech News
April turned out to be a brutal month for crypto investors. In just one month, the crypto world lost a massive $364 million to scams, hacks, and phishing attacks. Most of the damage, around $337 million, came from phishing alone. But some white-hat hackers helped return about $18.2 million.
Let’s dive deep into the details.
$364M Lost to Scams
According to a recent update from blockchain security firm CertiK, the crypto world lost nearly $364 million to various scams, hacks, and phishing attacks, making it one of the most damaging months so far this year.
And most of this loss, about $337 million, was caused by phishing, which means people were fooled into giving away their private info or wallet access.
One major case stood out. A senior U.S. citizen lost 3,520 Bitcoin, worth over $330 million, in a phishing attack that happened on April 30. The hacker used clever tricks and social tactics to gain access to the victim’s wallet. This was one of the fifth-largest crypto hacks ever.
For comparison, March only saw $29 million in crypto-related losses. That means April’s figures jumped by over 1100%, a wake-up call for the entire industry. Even if you remove the giant Bitcoin theft, April still saw $34 million in damages, a 21% rise.
February: ByBit, One of the Biggest Hack
In February, the crypto world saw its biggest loss of the year, around $1.53 billion. The main reason was a huge $1.4 billion hack on Bybit, believed to be carried out by North Korea’s Lazarus Group. It’s known as the largest crypto hack ever.
Yet $18M Was Returned
Even though many people lost money, about $18.2 million was returned by white-hat hackers. These are ethical hackers who discover vulnerabilities, but instead of stealing funds, they return them and often alert the project teams to fix the issues.
Three platforms, such as KiloEx, Loopscale, and zkSync, were lucky enough to get their funds back thanks to such good actors.
As we step into May, this report should serve as a wake-up call for users and developers alike. If crypto wants to grow safely, security must be at the center of the conversation.