Hacken CEO Sees 'No Shift' in Crypto Security as April Hacks Hit $357M

The recent surge in crypto losses, with nearly $360 million stolen across 18 hacking incidents in April, has left many wondering if the industry's approach to security is due for a change. However, according to Hacken CEO Dyma Budorin, the landscape of crypto security remains largely unchanged.

"In big Web2 companies, this is mandatory," said Budorin in an interview with Cointelegraph at the Token2049 event in Dubai. "We need to go beyond these isolated security measures and adopt more layered approaches similar to those of traditional industries." These measures include supply-chain security, operational security, and blockchain-specific security assessments.

Budorin's comments come on the heels of a $1.4 billion Bitcoin theft in a social engineering attack, which has left many experts questioning the effectiveness of current crypto security measures. Despite this, Budorin asserts that the industry continues to rely on limited measures such as bug bounties and penetration tests.

"Maybe a little shift from a post-hack approach," Budorin said, citing how security firm Chainalysis introduced near real-time blacklisting of stolen funds. This small improvement is a step toward progress in crypto security, according to the CEO.

A Step Forward for Post-Hack Security Responses

On February 21, the Bybit hack saw $1.4 billion in crypto stolen through a safe wallet vulnerability. The malicious actors laundered 100% of the stolen money in just 10 days. This became the largest crypto hack in history.

"This is great because, previously, Chainalysis was blacklisting within three days when the funds were moving," said Budorin. "And this is obviously nothing because hackers had enough time to launder, through exchanges, the stolen money."

A Slight Shift in Post-Hack Security Approaches

While the approach to crypto security remains unchanged, post-hack security responses have seen some improvements. Chainalysis's introduction of near real-time blacklisting of stolen funds is a notable example.

"But in terms of the practice, cybersecurity, nothing changed," Budorin emphasized. "The deeper structural risks still need to be addressed."

April's Crypto Losses Surge Nearly 1,000% from March

In April 2025, blockchain security firm PeckShield reported that the space saw nearly $360 million in digital assets stolen across 18 hacking incidents. This represents a 990% increase compared to March, when crypto lost to hacks totalled about $33 million.

The Largest Chunk of Losses Came from an Unauthorized Bitcoin Transfer

On April 28, blockchain investigator ZachXBT flagged a suspicious transfer of $330 million in BTC. The investigator later confirmed that the transfer was a social engineering attack targeting an elderly individual in the United States.

A Call to Action for Crypto Companies

"We need to take a more comprehensive approach to security," said Budorin. "It's not just about patching vulnerabilities, but also about understanding the underlying risks and taking proactive measures to mitigate them."

As the crypto industry continues to navigate the complexities of security, it remains to be seen whether companies will adopt more layered approaches similar to those used in traditional industries.