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In the cryptocurrency landscape, alongside the potential for millions in profits and various advantages, there are also notable disadvantages such as exploitation, hacks, and scams. Recently, the on-chain security firmCertiK Alert made a post on X (previously Twitter), stating that from April 2024 to now, the overall crypto market has lost over $25.7 million of cryptocurrencies due to exploits, hacks, and scams. Crypto losses in April 2024 
However, this loss of over $25.7 million is 141% lower than the previous month’s $79 million in March 2024. If we delve into the details of the <a href="https://news.todayq.com/crypto-losses-reach-79-million-in-march-69-mln-returned/" rel="noopener noreferrer nofollow">cryptocurrency losses</a> in April 2024, the majority of losses, which amount to $21 million, come from exploitation, whereas the losses caused by exit scams and flash loans are $4.3 million and $129K, respectively.
Despite this $25.7 million loss in April 2024, if we look at the overall loss of cryptocurrency since 2024, then this number is significant. According to the data shared by CertiK Alert, from January 2024 to April 30, the crypto market experienced a loss of over $449.3 million. However, there is one more warning of the scam, an exploit CertiK has informed ZKasino on their Skynet profile. The security firm has found that ZKasino transferred $33 million in user funds to Lido as per the CertiK latest post on X. Why Crypto market struggles in April 2024? 
Besides this loss, the overall cryptocurrency market continues to struggle in April 2024. Whereas the top cryptocurrencies like Bitcoin, Ethereum, Solana, Binance Coin, Ripple, and many others experienced massive downside momentum of over 13%, 16%, 35%, 7%, and 21%, respectively.
The major reason behind this massive fall in the crypto market is due to several factors. These include the release of higher-than-expected United States Consumer Price Index (CPI) data, Solana’s network congestion, geopolitical tensions between Iran and Israel, and the recent record fall of the Japanese Yen against the US dollar.
As of writing, the overall cryptocurrency market is down by nearly 2%, whereas the 24-hour trading volume has increased by 13%, and the value stands at $60 billion. This massive surge in trading volume in the last 24 hours indicates investors’ and traders’ interest in this market, where every cryptocurrency is trading at a discount.

Crypto exploits stood at $25M in April, Lowest figure since 2021

Todayq News

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