While the cryptocurrency market is welcoming a wave of investment from large institutions and support from the political arena, a concerning truth is quietly unfolding: hacks and scams in crypto are increasing at an alarming rate, surpassing the total damages of 2024 in less than half of 2025.



Shocking fact: 1.7 billion USD has disappeared


According to the latest report from blockchain security company Immunefi, total losses from hacks and scams in the crypto market since the beginning of 2025 have exceeded 1.7 billion USD – an increase of 14% compared to the entire year of 2024 (1.49 billion USD) and four times higher than the same period last year (420 million USD).


In April 2025 alone, #Hacker had stolen nearly 100 million USD, showing the severity of attacks on decentralized systems (DeFi) and crypto exchanges.



The largest hack in history: Bybit lost 1.4 billion USD


The figure of 1.7 billion USD lost does not come from many small incidents, but largely due to a shocking hack at Bybit – where 1.4 billion USD was stolen in the form of Ethereum and related assets $ETH .


This is the largest incident in the history of the crypto industry, not only causing turmoil in the market but also raising concerns about serious security vulnerabilities in current digital financial systems.



DeFi: A fertile ground for cybercriminals


Although anticipated as the future of decentralized finance, DeFi is becoming a favorite target for hackers. #Immunefi recorded:


  • In April, there were 15 individual attacks on DeFi protocols, causing damage of 92.4 million USD.



  • DeFi platforms like UPCX and KiloEx were respectively hacked for 70 million USD and 7.5 million USD within just two weeks.




The main reason is that DeFi is still too new, open source, and often lacks robust security layers, making it easy for hackers to exploit vulnerabilities.



The most attacked blockchains


According to Immunefi statistics:



  • Ethereum and BNB Chain are the two most targeted blockchains.



    They account for 60% of the total damage across all chains.




This shows that the most popular blockchains are also the most attractive targets for cybercriminals due to the high value of assets and active trading activities.



Is DeFi becoming safer?


Although the loss figure is still very large, Immunefi's CEO – Mr. Mitchell Amador – believes that major and reputable projects in DeFi today are much better protected than a few years ago.



"The DeFi space remains one of the most hostile software environments, but current security systems have matured, making it harder for hackers to exploit," he said.



This means that: DeFi is clearly becoming polarized, where reputable projects that invest thoroughly in security will survive, while smaller, inexperienced platforms will continue to be prey for cybercriminals.



Implications for crypto users and the Binance community


With more than 1.7 billion USD stolen in just 4 months, the question arises: who will be the next victim? Individual users, even when investing through major platforms like Binance, need to enhance their security awareness to avoid falling into unverified protocols or sophisticated scams.



  • Users on Binance need to prioritize using projects that have been verified and have clear audits.



  • Avoid unverified DeFi, especially platforms that promise unusually high interest rates.



  • More importantly, always secure your personal wallet, do not share your private key or seed phrase with anyone, even if requested under the guise of 'customer support.'





Conclusion: The dual-edged nature of crypto


While on one hand, the crypto market is experiencing an influx of large institutions, Bitcoin ETFs are thriving, and the U.S. President has a positive attitude towards digital assets; on the other hand, a massive amount of money is still being stolen by cybercriminals each month.


This clearly reflects: crypto is maturing, but still full of risks.



Risk warning: Investing in cryptocurrency carries many risks, including the possibility of losing all invested capital. This article is for informational purposes only and does not constitute investment advice. Users should conduct their own research and only participate in the market with capital they can afford to lose. #anhbacong