The crypto industry suffered significant losses due to hacks in April 2025, totaling $92.4 million. The majority of these attacks targeted decentralized finance (DeFi) platforms, with Ethereum and BNB Chain being the most affected networks2.
The largest hack involved UPCX, a blockchain payments platform, which lost $70 million. KiloEx, a decentralized exchange, was also hit, losing $7.5 million. Other affected platforms included Loopscale ($5.8 million), ZKsync ($5 million), and Term Labs ($1.5 million).
April’s losses represent a 124% increase from March, highlighting the growing threat of cyberattacks in the crypto space. State-backed threat actors have emerged as a major concern, with experts warning that security measures must be strengthened.
DeFi platforms vulnerable
Despite ongoing efforts to improve cybersecurity, DeFi platforms remain vulnerable due to their open-source nature. Immunefi, a blockchain security firm, has called for stricter security protocols and increased bug bounty programs to mitigate risks.
The total crypto losses for 2025 have already surpassed $1.74 billion, exceeding the total losses recorded in 2024. This trend underscores the urgent need for enhanced security measures across the industry5.
As the sector continues to evolve, addressing security vulnerabilities will be crucial for maintaining investor confidence and ensuring the long-term viability of decentralized finance.
Shogun Lin
