{"id":23755,"date":"2025-05-07T17:45:41","date_gmt":"2025-05-07T14:45:41","guid":{"rendered":"https:\/\/forklog.com\/en\/expert-highlights-inadequate-cybersecurity-progress-in-crypto-projects\/"},"modified":"2025-05-07T17:45:41","modified_gmt":"2025-05-07T14:45:41","slug":"expert-highlights-inadequate-cybersecurity-progress-in-crypto-projects","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/expert-highlights-inadequate-cybersecurity-progress-in-crypto-projects\/","title":{"rendered":"Expert Highlights Inadequate Cybersecurity Progress in Crypto Projects"},"content":{"rendered":"

Even the loss of nearly $1.5 billion from the February Bybit hack<\/a> failed to prompt industry participants to change their approach to cybersecurity issues. This was stated by Hacken CEO Dima Budorin in an interview with Cointelegraph<\/a>.<\/p>\n

The industry continues to rely on a limited set of measures such as bounty programs or penetration tests. However, this is categorically insufficient, the expert believes.<\/p>\n

According to him, crypto companies need to adopt a more multi-layered approach, similar to that used in traditional industries. This includes supply chain security, operational risks, and their assessment considering blockchain specifics.<\/p>\n

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\u201cIn large Web2 companies, this is mandatory,\u201d Budorin clarified.<\/p>\n<\/blockquote>\n

He also acknowledged that certain changes in security have occurred following the largest hack in the industry’s history.<\/p>\n

For instance, Chainalysis has started maintaining a blacklist of wallets interacting with stolen assets almost in real-time. Previously, it took the firm up to three days after a transaction to mark addresses.<\/p>\n

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\u201cAnd this was obviously pointless, as hackers had enough time to launder the stolen money through exchanges,\u201d Budorin noted.<\/p>\n<\/blockquote>\n

After the unauthorized withdrawal of $1.46 billion from Bybit, the perpetrators \u201ccleaned\u201d the coins in about ten days. They actively used<\/a> mixers such as CryptoMixer, Tornado Cash, and Railgun, as well as platforms like Wasabi, THORChain, eXch, Lombard, LI.FI, Stargate, and SunSwap.<\/p>\n

According to PeckShield, the industry lost $357.11 million in April due to 18 hacker attacks.<\/p>\n

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#PeckShieldAlert<\/a> In April 2025, 18 major crypto hacks were recorded, resulting in $357.11M in total losses. Notably, @zksync<\/a>, @KiloEx_perp<\/a>, and @term_labs<\/a> recovered a combined $14.4M of stolen funds.
Top 5 Hacks in April 2025
\u2014#BTC<\/a> unauthorized transfer: $330.7M
\u2014@KiloEx_perp<\/a>\u2026 pic.twitter.com\/y0ve1cRshS<\/a><\/p>\n

\u2014 PeckShieldAlert (@PeckShieldAlert) May 7, 2025<\/a><\/p><\/blockquote>\n