Overview of Blockchain Security Incidents and Industry Trends in April 2024

In April 2024, the loss amount from blockchain security incidents significantly decreased compared to March. This month, there were over 32 typical security incidents, with a total loss amount of approximately $101 million, down about 36% from March. Among them, the loss from attack incidents was about $52.56 million, a decrease of about 55%; the loss from phishing scams was about $11.4 million, a decrease of about 69%; and the loss from Rug Pull incidents was about $37.05 million, an increase of about 624%.

The biggest security incident this month was Hedgey Finance being attacked due to a contract vulnerability, resulting in a loss of about $44.7 million, accounting for 85% of the total losses from hacker attacks this month. Additionally, the decentralized betting platform ZKasino experienced a large-scale Rug Pull incident involving $33 million.

Typical Security Incidents

Hacker Attack

This month, there were 11 typical attack incidents, resulting in losses of approximately 55.25 million dollars:

1. On April 1st, the DeFi protocol OpenLeverage was attacked due to a contract vulnerability, resulting in a loss of approximately $230,000.

2. On April 1st, ATM tokens on the BNB Chain were attacked due to a contract vulnerability, resulting in a loss of approximately $180,000.

3. On April 2, the decentralized exchange FixedFloat was attacked again, resulting in a loss of approximately $2.8 million.

4. On April 12, the BASE ecological project SumerMoney was attacked due to a contract vulnerability, resulting in a loss of approximately $350,000.

5. On April 12, the Zest Protocol on the Stacks Blockchain was subjected to a price manipulation attack, resulting in losses of approximately $1 million.

6. On April 15, the BASE ecosystem RWA project Grand Base lost approximately $2 million due to the leak of the deployer's private key.

7. On April 19, Hedgey Finance was attacked on both Ethereum and Arbitrum chains due to a contract vulnerability, resulting in a loss of $44.7 million.

8. On April 24, the YIEDL project on the BNB Chain was attacked due to a contract vulnerability, resulting in a loss of approximately $300,000.

9. On April 24, the Saita Chain cross-chain bridge Xbridge was attacked due to a contract vulnerability, resulting in a loss of at least $200,000.

10. On April 25, the NGFS token on the BNB Chain was attacked due to a contract vulnerability, resulting in a loss of approximately $190,000.

11. On April 26th, the cross-chain lending protocol Pike Finance was attacked, resulting in a loss of approximately $300,000.

Rug Pull/Phishing Scam

This month, there have been 6 typical Rug Pull or phishing scam incidents, causing losses of approximately 37.25 million dollars:

1. On April 2nd, a Rug pull occurred on the Solareum on the Solana Blockchain, and the deployer made a profit of $520,000.

2. On April 4th, a Rug pull occurred on the Solana chain's CondomSOL, with the deployer profiting $920,000.

3. On April 11th, a certain address lost approximately $840,000 due to phishing fraud on the Base blockchain.

4. On April 11, another address lost approximately $1.2 million on the Base blockchain due to phishing fraud.

5. On April 19, a certain address suffered a loss of approximately $770,000 due to phishing fraud.

6. On April 20, the decentralized betting platform ZKasino experienced a rug pull, with 33 million dollars of user funds being transferred.

Cryptocurrency Crime Cases

This month, there were 15 typical cryptocurrency crime cases:

1. Hong Kong Customs dismantled a money laundering group, involving 1.8 billion HKD, with 3 people arrested.

2. Shandong police cracked a case involving the use of virtual currency to launder money for overseas fraudsters, with an amount involved of 2 million yuan.

3. The first "Red Notice" person in Zhenjiang, Wang, was sentenced for organizing online pyramid schemes, involving 100 million yuan.

4. Several European countries jointly arrested 22 people, suspected of defrauding the EU post-pandemic fund, and seized assets worth 600 million euros.

5. Mango Markets attacker Avi Eisenberg was found guilty of fraud and market manipulation.

6. The Taiwanese prosecutor suggested a 20-year imprisonment for the main culprit involved in the ACE Exchange fraud case.

7. "Jay Mazini" was sentenced to 7 years in prison for multiple cryptocurrency frauds, and $10 million was confiscated.

8. Shanxi police have cracked a major case of infringing on citizens' information, involving over 30 million yuan.

9. An American man is suspected of illegally mining $1 million through "crypto hijacking."

10. Russian police raided four "illegal" mining sites and seized over 3,200 devices.

11. A man in Shanghai defrauded over 1 million yuan under the guise of investing in virtual currency.

12. Hacker SHAKEEB AHMED was sentenced to 3 years in prison for hacking the exchange and stealing $12 million.

13. A robbery case related to a 500 million won token transaction occurred in Seoul, South Korea.

14. A Chinese wealthy businessman in the UK was kidnapped by a cryptocurrency extortion gang, demanding 15 million dollars in Bitcoin.

15. The co-founder of Samourai Wallet was arrested on suspicion of laundering 100 million dollars.

Blockchain Policy

1. Jiangsu released the Data Intellectual Property Registration Management Measures.

2. Shanghai promotes "Blockchain + high-quality agricultural products" traceability application.

3. The National Data Bureau released guidance on the development of smart cities.

4. The application of promoting Blockchain technology in the long-term care保障 system in Zhejiang.

Blockchain Industry Development

1. The Sichuan Province Copyright Trading Platform Alliance has been established to provide copyright services throughout the entire lifecycle.

2. The first UE virtual film studio in Shanghai has been put into use, empowering the metaverse industry.

3. Wuhan "Jingchu Agricultural Blockchain" builds a full-chain service system for agricultural products.

4. The Metaverse Medical Digital Human GPT debuted in Minhang, Shanghai.

5. The Ministry of Education's Metaverse "Vocational Education Workshop" project teacher training class has started in Wuhan.

6. Victory Securities releases an APP that integrates stock and cryptocurrency trading features.

7. The Bank for International Settlements and seven central banks will test blockchain cross-border payments.

Digital Assets and Industry Regulation

1. The IRS has released a draft tax form for digital assets.

2. Angola's ban on cryptocurrency mining bill takes effect.

3. The President of Indonesia warns to be vigilant against the risks of money laundering in cryptocurrencies.

4. Norway implements new regulations for data centers.

5. The Central Bank of Russia supports accelerating the review of the international cryptocurrency payment bill.

6. The Institute for Financial Stability calls for consistent regulation of stablecoins.

7. New Zealand proposes an inclusive cryptocurrency regulatory framework.

8. Central banks of Japan, the United States, and others will conduct international settlement experiments with digital currencies.

9. The UK launches consultation on digital securities sandbox.

10. Brazil plans to tax cryptocurrencies as stocks.

11. South Korea strengthens regulation on exchange listings.

12. US Congressman claims that an agreement on stablecoin regulation will be reached.

13. Hong Kong proposes to establish a self-regulatory organization for virtual assets.

14. Thailand will block access to unauthorized cryptocurrency platforms.

15. Sweden requires crypto miners to pay back $90 million in taxes.

16. The UK will release new cryptocurrency legislation before July.

17. The International Securities Commission is concerned about asset tokenization.

18. Dubai considers reducing compliance costs for small crypto companies.

19. Singapore issues new regulations for digital payment tokens.

20. Lithuania will implement strict licensing for cryptocurrency companies.

Other Important Updates

1. The Embassy of China in Angola reminds to be vigilant about local virtual currency mining risks.

2. The main suspect of the 43 billion yuan illegal fundraising case of Lantian Ge Rui was arrested in the UK.

3. UK lawmakers call for the cultivation of cryptocurrency talent.

4. South Korea plans to upgrade its cryptocurrency crime investigation unit.

5. Hong Kong police freeze $29 million in assets related to JPEX.

6. The 2023 Hong Kong cryptocurrency investment fraud case involves 3.16 billion yuan.

7. The Hurun Report shows that Binance has entered the global unicorn TOP 10.

8. 6.1 million Bitcoins from the Blue Sky Ge Rui case have been seized by the British police.

9. 2500 investors request the government to recover assets from the Blue Sky Ge Rui case.

10. Bitget clarifies that it is not related to "Bitget Pro".

11. OneCoin's legal head was sentenced to 4 years in prison.