Crypto Sector Warned: $3.2B Lost in 2025 as State-Backed Hackers Threaten
Cyber threats in the cryptocurrency sector have reached alarming levels, with a record-breaking $1.5 billion hack on Bybit in February 2025 and over $1.7 billion lost so far in 2025. ImmuneFi CEO Mitchell Amador has warned of the growing danger and the need for stronger defenses.
The crypto industry has witnessed a significant increase in losses. April 2025 saw a 2.2x increase compared to March 2025, with $92.45 million lost across 15 incidents. This is a 27.3% increase from April 2024. Two major incidents in April 2025 accounted for the majority of losses: UPCX lost $70 million and KiloEx lost $7.5 million. All 15 incidents occurred within the DeFi sector, accounting for 100% of the total losses. Ethereum and BNB Chain together accounted for 60% of all blockchain-related losses in April 2025. Amador highlighted the need for security teams to defend every aspect of their systems and adopt a 'zero-trust' approach. He also warned about state-sponsored actors from countries like North Korea, China, and Russia, which have been involved in similar activities in the past.
The crypto industry faces a growing threat from cyber attacks, with state-sponsored actors posing a significant risk. To mitigate these threats, the industry must strengthen its defenses and adopt more robust security measures. The recent increase in losses serves as a stark reminder of the urgent need for action.
