Crypto users have already lost over $1.7 billion to these groups – an increase of 14% over the total losses of $1.49 billion recorded in 2024, according to blockchain security firm, ImmuneFi.
Some reports estimate 2024’s total losses to be even higher, placing them at over $2 billion. These include:
CertiK’s 2024 Hacked Report
Chainalysis Report
REPORT | Hackers Stole Over $2.2 Billion From Cryptocurrency Users in 2024, North Korea Main Culprit
Private key compromises accounted for the largest share of stolen crypto in 2024 at 43.8%.https://t.co/ZP0GjL6Mc7 pic.twitter.com/KgBnoFEITG
— BitKE (@BitcoinKE) December 22, 2024
Nevertheless, this year’s figures are undoubtedly influenced by the record-breaking $1.5 billion hack on Bybit in February 2025, which now stands as the largest crypto hack in history.
According to ImmuneFi, a blockchain security platform with a global community of whitehat hackers who review code and disclose vulnerabilities responsibly, $92.45 million was lost to hacks in April 2025 across 15 incidents marking a 27.3% increase from the $72.6 million lost in April 2024.
REPORT | Over $300 Million Lost to Scams and Hacks in Q1 2024 – 100% on #DeFi and 51% on Ethereum
In Q1 2024, DeFi continues to be the main target for exploits, compared to CeFi.
DeFi represented 100% of the total losses, while CeFi has not witnessed a single attack.… pic.twitter.com/7e80wIjYkJ
— BitKE (@BitcoinKE) April 1, 2024
Losses in April 2025 represent a 2.2x increase compared to March 2025, when recorded losses stood at $41,406,115. The majority of April 2025 losses stemmed from two major incidents:
The open-source platform UPCX, which lost $70 million, and
The decentralized exchange KiloEx, which lost $7.5 million
All 15 recorded incidents in April 2025 occurred within the DeFi sector, accounting for 100% of the total losses, while centralized finance (CeFi) platforms reported no cases. Hacks remained the leading cause of losses, significantly outpacing incidents of fraud.
Ethereum and BNB Chain together accounted for 60% of all blockchain-related losses:
Ethereum experienced the highest number of individual attacks, with five incidents making up 33.3% of the total.
BNB Chain followed with four incidents, representing 26.7%, while
Base recorded three attacks, accounting for 20%.
Arbitrum, Solana, Sonic, and ZKsync each suffered one attack.
ImmuneFi CEO, Mitchell Amador, highlighted the growing danger posed by cyber threats.
“The sheer scale of the attack shows how state-backed actors are arguably the most pressing threat to our industry,” Amador said in a statement.
He emphasized the need for security teams to defend every aspect of their systems, warning that they must operate under the assumption that attackers will eventually breach their defense.
He added that seemingly trustworthy apps or emails might be deceptive.
“Protocols must be built for resilience,” Amador said, urging the development of stronger defenses and the adoption of a “zero-trust” approach across all platforms.
Follow us on X for the latest posts and updates
Join and interact with our Telegram community
_________________________________________
_________________________________________
