Summary
- About 30 cases of crypto hacking were reported in April, with total losses exceeding $630 million, marking one of the worst months on record.
- The report cited a $285 million hack involving Drift Protocol and a $292 million attack on Kelp DAO as representative cases.
- The outlet said repeated large-scale hacks could lead to lower token prices, weaker confidence in DeFi and tighter liquidity.
Forecast Trend Report by Period
April was one of the worst months on record for cryptocurrency hacks, underscoring mounting security risks across decentralized finance.
About 30 crypto hacking incidents were reported in April, The Block reported on May 8.
The scale of the damage was also among the largest ever recorded. Total losses during the month exceeded $630 million.
The biggest cases included a $285 million hack involving Drift Protocol and a $292 million attack on Kelp DAO.
The report said the damage was not confined to a few specific protocols.
It added that such incidents could trigger declines in token prices, erode confidence in DeFi and tighten liquidity.
Markets are watching how repeated large-scale hacks could affect the broader DeFi ecosystem. Stronger security and improved risk-management frameworks will be key variables going forward.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
