Cryptocurrency-related losses have surged to $1.74 billion since the beginning of 2025, exceeding the total losses recorded for all of 2024, according to a new report from blockchain security firm Immunefi. The loss spike includes $92 million in April alone, driven by a series of decentralized finance (DeFi) hacks.
The report highlights a significant year-over-year increase. By April 2024, the sector had lost $420 million. The jump to $1.74 billion this year represents a fourfold increase and raises fresh concerns over the effectiveness of DeFi security protocols.
Major Crypto Losses Concentrated in DeFi Platforms
April 2025 saw 15 separate security incidents, all of which involved DeFi platforms. Notably, centralized finance (CeFi) entities reported no losses for the month. Despite this, CeFi remains responsible for 88% of year-to-date (YTD) losses, according to the data.
Among the highest-profile breaches was a $70 million exploit targeting UPCX, an open-source payment network. KiloEx, a decentralized exchange, also suffered a $7.5 million loss. Combined, these two incidents accounted for over 83% of April’s total losses.
The April figures mark a 2.2-times increase over March’s $41 million losses and represent a 27% year-over-year rise from the $72 million recorded in April 2024.
Ethereum and BNB Chain Top Targets
Ethereum and BNB Chain remained the most targeted blockchain networks, responsible for 60% of all losses during April. The report also flagged Base, a layer-2 blockchain developed by Coinbase, as a growing area of concern, accounting for 20% of chain-related incidents last month.
Immunefi emphasized that hacks continue to outweigh fraud in total losses, underscoring the increasing technical sophistication of malicious actors in the crypto space.
The security firm warned that unless platform vulnerabilities are addressed more aggressively, the trend of escalating losses may persist throughout the remainder of the year.
Outlook Remains Cautious
April’s losses marked the second-highest monthly total in 2025, signalling a continuation of high-impact attacks that have plagued the crypto sector since the start of the year. With over $1.7 billion lost so far, observers are closely watching whether defences can be improved before further damage occurs.
The report comes amid growing calls for stronger security audits and improved risk management across decentralized ecosystems.
