Crypto security risks rose sharply in April after a series of attacks drained hundreds of millions from digital platforms. The incidents exposed ongoing weaknesses across the sector. On-chain analysis shows that since April 25, 2026, there has been at least one exploit a day.
As per DeFiLlama data, the total value hacked figures reached about $635.24 million during April. The number of exploits also passed 25, marking the highest level recorded. While some past months saw bigger losses, April stood out for the steady pace of attacks and how closely they occurred, raising concerns about changing threat patterns in decentralized finance.
Surge in exploits signals deeper vulnerabilities
Crypto-related losses have reached nearly $16.5 billion over time, according to data from DeFiLlama. Decentralized finance (DeFi) platforms account for about $7.7 billion of that total, highlighting persistent weaknesses in open systems and complex smart contract designs.
Cross-chain bridges have also become a major target for attackers, recording roughly $2.9 billion in losses. Because these platforms facilitate large fund transfers across blockchain networks, they have increasingly attracted sophisticated exploits targeting critical infrastructure rather than smaller projects.
On April 18, KelpDAO recorded the largest breach at $292 million, raising liquidity concerns within Aave and prompting urgent responses. The April 1, Drift Protocol exploit’s numbers followed with a $280 million loss, ranking as the second-largest incident during the month.
Social engineering and key compromises rise
Analysts say recent crypto attacks are changing in nature. Instead of just exploiting code, attackers now target people with access. One X user explained, “The number of incidents tells one story. The method tells another.” He added, “Drift and Kelp weren’t code bugs. They were months of social engineering against humans with admin keys.”
The Drift Protocol confirmed this pattern. The team said the attack came from a “structured intelligence operation” that lasted nearly six months. The attackers built trust through meetings and normal integrations before using that access to carry out the breach. The case highlights how human trust can become a weak point.
Other incidents show similar risks. April ended with Wasabi Protocol losing more than $5 million after attackers gained control of an admin key. They then pushed unauthorized upgrades and moved funds across different blockchains. Hyperbridge also suffered an exploit that allowed attackers to create tokens through a verification gap.
Near the end of the month, on-chain analyst Wazz warned of another issue. He wrote, “Hundreds of wallets… just got drained by the same address on ETH mainnet.”
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