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April Sets Record for Crypto Industry Hacks

April Sets Record for Crypto Industry Hacks

April witnessed a record number of hacks in the crypto industry. Analysts at DeFiLlama counted more than 20 incidents during the month.

According to CertiK, total losses from attacks reached $651 million. While this figure did not set a monetary record, the number of individual hacks surpassed historical levels.

Analyst Stacy Muur estimated a total of 24 cases of fund theft.

The largest incident was the hack of Kelp, resulting in a $292 million loss. The attack caused issues with “bad debts” in the lending protocol Aave, forcing the community to seek emergency loans and donations.

The second largest was the breach of Drift Protocol on the Solana platform, with damages exceeding $280 million. Project representatives stated that the attack was not due to a code bug. According to them, it was a planned operation prepared over six months using social engineering techniques.

Another notable case was the hack of the Hyperbridge protocol on the Polkadot network: the project lost $2.5 million due to forged cross-chain messages. The perpetrator issued about 1 billion DOT tokens and sold them.

At the end of the month, an expert known as Wazz reported the hacking of hundreds of wallets on the Ethereum network, many of which had been inactive for more than seven years.

According to CertiK, April’s losses were the largest since March 2022, excluding the Bybit exchange incident. About $3.5 million of the total was due to phishing.

On April 30, attackers breached the Wasabi project, causing damages exceeding $5 million.

On April 28, the Ethereum infrastructure project Syndicate was hacked. Cybersecurity experts estimated the losses at $330,000.

At the same time, attackers breached the Aftermath Finance exchange in the Sui ecosystem, extracting about $900,000 in USDC.

A day earlier, the L1 network ZetaChain was affected. Developers stated that the incident only impacted the team’s internal wallets. The damage amounted to $333,868.

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