According to the security firm CertiK, there was a discernible drop in losses resulting from scams and breaches in the cryptocurrencycurrency space in April.
In April, CertiK lost less than $26 million overall, a 141% decrease over March. API security is always improving, from safeguarding digital assets to completely eliminating the need of private keys for hacking.
Despite the encouraging April numbers, Immunefi’s data indicates that $336 million in fraud and theft incidents were reported in the first quarter. Even though there have been a lot less cryptocurrencycurrency frauds recently, DeFi still seems to have security flaws.
More than $129,000 in losses were caused by attacks related to flash loans, with the worst attack resulting in damages of $55,000, the lowest since February 2022.
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