$364M Lost to April Exploits: Is Crypto Security Failing?

April 2025, witnessed even greater security problems in cryptocurrency when people lost $364 million in hacks and scams, much more than the $32 million that was lost in the preceding month.

The most significant of these losses, at $337 million, came when one person lost 3,520 Bitcoin after being tricked by a phishing scam, which ended up being one of the biggest single crypto heists in history.

DeFi platforms were still where most hackers tried to attack. KiloEx, ZKsync, Loopscale, and Term Labs were exploited by hackers who stole money from them, but some of the platforms were able to regain a percentage of their lost funds by other individuals volunteering to help.

Even with the improvement in auditing of smart contracts and people now earning money to find issues, hackers can still create new ways of breaching through the tech and human mistake.

What occurred in April serves to show that crypto security is not yet keeping up with the new risks facing the industry. It brings to you and I; the developers’ and users’ notice that we should be cautious of fake apps.