DeFi Sector Sees Record Number of Hacks in April with $635 Million Stolen

The cryptocurrency market is witnessing a rise in hacking incidents in the DeFi sector, with April setting a new record for the highest number of exploits.

According to recent reports, 28 hacks were recorded in April, resulting in the theft of $635 million. This surge in attacks has raised concerns about the security of decentralized finance platforms.

The hacks targeted various platforms, including lending protocols, yield farming services, and cryptocurrency exchanges. The most notable breaches involved LiquidityPool and Compound Finance, which suffered losses of $150 million and $100 million respectively.