Crypto Security Stagnant Despite April’s $357M in Hacks, Warns Hacken CEO

Despite a staggering $357 million lost in April crypto hacks, the industry’s approach to cybersecurity remains largely unchanged, according to Hacken CEO Dyma Budorin. In a recent interview, Budorin highlighted the persistent reliance on insufficient security measures.

“Most projects believe penetration tests and bug bounties are enough,” Budorin stated, emphasizing the need for comprehensive, layered security strategies. He advocates for adopting a multi-faceted approach encompassing supply chain security, operational security, and blockchain-specific assessments – practices standard in established Web2 companies.

A Minor Shift: Real-time Blacklisting

While overall security practices haven’t evolved significantly, Budorin acknowledges a small improvement in post-hack responses. He cites Chainalysis’ introduction of near real-time blacklisting of stolen funds as a positive step, contrasting it with the previous three-day delay that allowed ample time for laundering.

However, this advancement does little to address fundamental security vulnerabilities. The recent $1.4 billion Bybit hack, where stolen funds were laundered completely within 10 days, underscores this critical gap. Even with faster blacklisting, deeper structural changes are desperately needed.

April’s Losses: A 990% Surge

April 2025 witnessed a sharp increase in crypto hacks, with PeckShield reporting nearly $360 million in stolen digital assets across 18 incidents – a 990% surge compared to March. A significant portion of this loss stemmed from a sophisticated social engineering attack targeting an elderly individual, resulting in a $330 million Bitcoin transfer.

The alarming figures highlight the urgent need for a fundamental shift in the industry’s approach to cybersecurity, moving beyond superficial measures to a more robust and proactive security posture.