Two Hacks, $606M Lost, Yet Ethereum Holds Above $2,300

• Two North Korea-linked hacks stole over $570 million from KelpDAO and Drift Protocol.
• Ethereum climbed from $2,000 to $2,300 despite the heaviest hack month in over a year.
• Analysts watch the ETH golden triangle with a $10,000 target above and $1,950 as the floor.

April 2026 has become the worst month for crypto exploits since February 2025, and it is not even over yet. In just 18 days, protocols have lost more than $606 million to hacks, pushing the industry’s total losses for the year to $771.8 million.

Two attacks account for nearly all of it. The Drift Protocol hack on April 1, 2026, involved a $280–$285M exploit using social engineering and durable nonce transactions on Solana. The $292 million Kelp DAO exploit on April 18 targeted a single point of failure in LayerZero’s cross-chain messaging infrastructure. Together, they account for 95% of April’s losses …

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