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- $364M was lost in April as crypto scams and hacks spiked, marking an 1100% increase from March’s $29M.
- Hackers stole $337 million through phishing attacks, including $330 million from one individual, now the fifth-largest crypto hack ever.
- White-hat hackers recovered $18.2M, emphasizing the importance of ethical security efforts in the industry.
The crypto industry was rocked in April as it faced one of its most financially devastating months in recent memory. According to a report from blockchain security firm CertiK, the crypto sector suffered losses totaling $364 million due to an alarming spike in scams, phishing attacks, and direct protocol hacks. This significant figure marks a sharp increase compared to March’s $29 million in reported losses.
A staggering $337 million of the April total was linked to phishing alone, highlighting just how effective and dangerous these social engineering attacks have become. In a phishing attack, bad actors typically trick users into revealing their wallet credentials or private keys, giving hackers full access to their funds. This surge in phishing underscores a troubling trend in crypto security, where user error and deception are often more profitable to attackers than technical vulnerabilities.
The most shocking incident occurred on April 30, when a senior U.S. citizen lost 3,520 Bitcoin valued at over $330 million in a single phishing attack. This hack now ranks as the fifth-largest crypto theft of all time, serving as a wake-up call to investors and developers alike.
Crypto Hacks Jump 1100% in April
March only saw $29 million in crypto-related losses. The attacker used highly sophisticated tactics to deceive the victim and gain access to their digital wallet. Even excluding this massive theft, April still saw $34 million in damages, representing a 21% increase month-over-month.
Comparatively, April’s losses dwarf those of previous months, rising over 1100% from March. This sharp jump raises urgent questions about the crypto industry’s preparedness and resilience in the face of increasingly targeted attacks.
Earlier in the year, February 2025 also saw record-breaking losses when hackers stole $1.53 billion in crypto assets, with $1.4 billion stemming from a single attack on centralized exchange Bybit. Experts widely attribute that breach to North Korea’s Lazarus Group, further illustrating the high geopolitical stakes in the world of crypto cybersecurity.
White-Hat Hackers Save $18M Amid Crypto Chaos
Despite the grim statistics, there was a sliver of good news. White-hat hackers and ethical developers who identify and report vulnerabilities instead of exploiting them helped recover around $18.2 million during April. Projects like KiloEx, Loopscale, and zkSync were among the lucky platforms that had funds returned by these security-conscious actors. Their efforts highlight the growing importance of community-driven security solutions in the crypto space.
As we step into May, the crypto industry faces a crucial moment. The scale and sophistication of recent attacks underscore the urgent need for stronger security protocols, better user education, and smarter wallet practices. If the crypto sector hopes to maintain trust and attract new adoption, security must become a core pillar of its growth strategy.
In a digital economy where a single phishing email can erase millions, the crypto community must rally behind innovation with protection. The losses of April should not just be a headline; they should be a turning point.
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