April sees record number of crypto hacks with over 30 incidents

April set a record for the number of hacking incidents in the cryptocurrency industry, with approximately 30 cases reported during the month, according to The Block. The value of the losses also ranks among the highest on record, with the total exceeding $630 million. Major attacks included a $285 million incident involving Drift Protocol and a $292 million exploit of Kelp DAO. The Block noted that the impact of these hacks is not limited to the affected protocols. Such events can put downward pressure on token prices, lower trust in DeFi, and strain liquidity, which has already been struggling since a record sell-off on Oct. 10 of last year.