After the hack, the malicious actors laundered 100% of the stolen money in just 10 days. While faster blacklisting is a good step forward, it still doesn’t address the deeper structural risks.“But in terms of the practice, cybersecurity, nothing changed,” Budorin told Cointelegraph. Related: Bybit hacker launders 100% of stolen $1.4B crypto in 10 daysCrypto losses near $360 million in April In April 2025, blockchain security firm PeckShield reported that the space saw nearly $360 million in digital assets stolen across 18 hacking incidents. Source: PeckShieldApril’s losses show a 990% increase compared to March, when crypto lost to hacks totalled about $33 million.
Despite the $1.4 billion lost in the recent Bybit hack, crypto companies have not changed their approach to cybersecurity, according to Hacken CEO Dyma Budorin. In an interview with Cointelegraph at the Token2049 event in Dubai, Budorin said the industry continues to rely on limited measures such as bug bounties and penetration tests, rather than implementing comprehensive, layered security strategies:“Most of the projects think, ‘Okay, we did pentests.That’s enough.Maybe bug bounty.That’s enough.’ It’s not enough.”He said that crypto companies must go beyond these isolated security measures and adopt more layered approaches similar to those of traditional industries.
Budorin told Cointelegraph there were some improvements in the crypto space’s post-hack security responses. “Maybe a little shift from a post-hack approach,” Budorin told Cointelegraph, pointing to how the security firm Chainalysis introduced near real-time blacklisting of stolen funds.
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Author / Journalist: Cointelegraph by Ezra Reguerra
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