What happened?
Hackers have stolen over $92.4 million from various crypto projects in April 2025, marking a significant increase from previous months. The total losses for just the first four months of this year have already surpassed $1.74 billion, indicating a troubling trend. Two major incidents, involving UPCX and KiloEx, accounted for the biggest portion of these losses.
Who does this affect?
This situation primarily affects crypto investors and stakeholders in the crypto ecosystem, including users of platforms like UPCX and KiloEx. Developers and companies within the crypto industry are also impacted as they need to enhance security measures to protect against such threats. Additionally, this impacts Ethereum and BNB Chain users as these platforms experienced significant attacks.
Why does this matter?
The escalating losses signify potential instability in the crypto market, deterring potential investors due to perceived risks. Significant hacks undermine trust in decentralized and centralized finance platforms, potentially driving users away. The ongoing security challenges pose a threat to the growth and credibility of the crypto market, emphasizing the need for improved security solutions like Immunefi’s new AI-powered platform.