DeFi & NFT
By James Thorp
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Security Firms Under Fire. Security companies can't keep up with the wave. Alchemix, Trading Strategy, and Yearn Finance all…
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Smaller Contracts Get Hit Hard. Older contracts and smaller projects are getting hammered.
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Hackers took $1.08 billion from crypto platforms in 68 separate incidents through April 2026. April alone saw 30 of those thefts.
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The pace hit more than one hack per day this month. Last week brought 13 separate losses worth over $11 million combined.
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Security companies can't keep up with the wave. Alchemix, Trading Strategy, and Yearn Finance all went after Peckshield recently, saying the firm's security alerts made it look…
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Even the security experts aren't safe. A business development manager at CertiK had his Telegram account hijacked. Hackers used it to spread malware through fake meeting links.
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The visibility of these hacks has jumped partly because of AI. Hackers use AI tools to find weak spots faster.
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Pigi Finance ran the numbers and found that 3.37% of DeFi assets get lost to protocol exploits every year. That's just protocol-level stuff—doesn't count bridge hacks or phishing.
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Older contracts and smaller projects are getting hammered. They don't have the same security budgets as the big players.
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Protocol security has actually gotten better. Smart contract exploits are down compared to a few years ago. But hackers adapted.
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The two biggest April hacks prove the point. Drift Protocol and Kelp DAO lost $570 million combined. Neither hack came from a smart contract bug.
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More context: Robinhood Users Hit by Phishing Scam That Fooled Gmails Security Filters
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ImmuneFi tracks security breaches across crypto and sees the same pattern. Fewer attacks overall, but the ones that succeed are bigger and more complex.
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The shift makes sense from the hacker's perspective. Why spend time looking for a smart contract vulnerability that might not exist when you can trick someone into giving you…
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Security firms are caught between projects and reality. Projects want reassurance that their code is safe. Security firms want to warn users about risks.
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