Lost $600 Million in a Month... Cryptocurrency Market Faces 'Security Collapse'

▲ Cryptocurrency theft, cybersecurity, hacking/AI generated image

With 29 hacking incidents occurring in a single month, the cryptocurrency market as a whole has virtually entered a 'security collapse' warning.

According to the cryptocurrency specialized media outlet Bitcoinist on May 3 (local time), a total of 29 hacking and exploit attacks occurred in April 2026. This figure represents a sharp increase in attack frequency for a single month, and tension is rapidly spreading throughout the industry.

The damage caused by these attacks is estimated to be over approximately $600 million. It was confirmed that the impact of single attacks on the market has significantly expanded, especially as a few large-scale incidents accounted for the majority of the total damage.

Attack methods have expanded beyond exploiting existing smart contract vulnerabilities to targeting internal approval procedures and system structures. As forms of exploiting overall operational system flaws beyond simple code defects increase, the very nature of security risks is changing.

This increase in attacks directly leads to a trust issue across the cryptocurrency industry. Market participants are simultaneously raising the need to strengthen management systems and security standards, beyond just technical responses.

As the trend of institutional integration continues, security risks are emerging as a key variable, directly impacting the overall stability of the industry.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*