Crypto Hacks Surge 27.3% in April 2025, Losses Hit $92.4 Million

In April 2025, the crypto space experienced a significant loss of $92.4 million due to hacks, marking a 27.3% increase compared to the same period in 2024. This figure also represents a 2.2x rise from the previous month, March 2025, which saw losses totaling $41.4 million. The total losses for the first four months of 2025 surpassed $1.74 billion, a stark contrast to the $420 million lost during the same period in 2024. This year-to-date loss has already surpassed the total losses for the entire year of 2024, which amounted to $1.49 billion.

Two major incidents accounted for the majority of the $92.4 million loss in April. The open-source platform UPCX suffered a loss of $70 million, while the decentralized exchange KiloEx lost $7.5 million. Other notable losses included Loopscale and ZKsync, which each lost between $5 million and $6 million. Term Labs and Bitcoin Mission also experienced losses exceeding $1 million each.

Hacks were the sole cause of losses in April, with decentralized finance (DeFi) platforms accounting for 100% of the stolen funds. This trend highlights the ongoing vulnerability of DeFi platforms to security breaches. Ethereum and BNB Chain were the most targeted chains, accounting for over half of the losses, with Ethereum suffering the most attacks, representing 33.3% of all incidents. BNB Chain saw four attacks, or 26.7% of the total. Other affected chains included Base, Arbitrum, Solana, Sonic, and ZKsync, each experiencing at least one attack.

The first quarter of 2025 marked the worst quarter for hacks in the history of the crypto ecosystem, with $1.64 billion lost. Most of these losses were due to two major hacks of centralized exchanges. Phemex suffered a $69.1 million loss in January, while Bybit lost $1.46 billion in February. These incidents underscore the need for enhanced security measures across the crypto industry to mitigate the risk of such significant financial losses.

Immunefi, a blockchain security platform, noted that it offers over $180 million in available bounty rewards and has paid out over $116 million in total bounties so far. In late March, Immunefi launched Magnus, an AI-powered security orchestration platform designed to unite threat intelligence and automated security operations across a protocol’s security stack, thereby maximizing protection. The platform aims to enhance the security of crypto projects by providing comprehensive threat detection and response capabilities.