Hacken CEO sees ‘no shift’ in crypto security as April hacks hit $357M
April’s crypto losses surged nearly 1,000% from March, driven by a $330 million Bitcoin theft in a social engineering attack.
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:
He said that crypto companies must go beyond these isolated security measures and adopt more layered approaches similar to those of traditional industries. These include supply-chain security, operational security and blockchain-specific security assessments.