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In April, cryptocurrency hackers lost $630 million, with DeFi becoming the hardest-hit area
Crypto news, April’s crypto hacking incidents have caused losses exceeding $630 million, making it the most severe month in a year, involving over 25 hacking attacks. Decentralized Finance (DeFi) accounted for the majority of the losses, with KelpDAO’s $293 million hack and Drift Protocol’s $280 million vulnerability accounting for 82% of the losses. The main causes of attacks are related to risks such as bridging, privileged access, and operational errors, rather than just smart contract vulnerabilities. Recently, platforms like Wasabi Protocol and Sweat Economy were also targeted, with losses of $5.5 million and $3.46 million respectively. Yaniv Nissenboim, head of security solutions at Chainalysis, stated that attackers are seeking new ways to exploit gaps between on-chain protocols and dependent off-chain systems.