Hacken: Hacker and Fraud Costs Increase by 96%
Date: 2025-04-07 Author: Henry Casey Categories: BUSINESS
Hacken analysts note that no new attack methods have emerged, but old methods continue to demonstrate high efficiency. The largest losses are caused by problems in multi-signature management. Although smart contract vulnerabilities remain relevant, the main damage is associated with human errors, imperfect processes, and insufficient protection of access systems.
According to Hacken, the decentralized finance (DeFi) sector recorded losses of $81 million, which confirms a steady downward trend in damage in this segment of the crypto market. However, for the third quarter in a row, the largest attacks are associated with shortcomings in multi-signature wallets.
Notable cases from last year included the $235 million loss by WazirX and $55 million by Radiant Capital. Both cases used Safe's multi-signature infrastructure. Hacken experts emphasize that the problem is not with smart contracts, but with weak operational security, imperfect transaction signing processes, and insufficient mechanisms for their verification.
In addition, Chainalysis experts reported that darknet platforms have returned to using Bitcoin for payment after Monero (XMR) was delisted from exchanges. This trend indicates that participants in illicit operations continue to adapt to changes in the cryptocurrency ecosystem.
