Here’s what happened in crypto today

Today in crypto, CertiK warns of four attack vectors that will likely drive the lion’s share of crypto hacks this year. Kraken calls for two key changes to US tax law affecting crypto users to eliminate millions of unnecessary forms and the UK Financial Conduct Authority has raided eight locations suspected of illegal peer-to-peer crypto trading.

Phishing, deepfakes, others to fuel 2026's biggest crypto hacks: CertiK

Real-time deepfakes, phishing attacks, supply chain compromises and cross-chain vulnerabilities will likely be the root of some of the biggest hacks in 2026, according to CertiK senior blockchain investigator Natalie Newson.

The industry has already lost over $600 million to hacks in 2026, due largely to two North Korea-linked crypto thefts in April, including the $293 million Kelp DAO exploit on Saturday involving a single point-of-trust failure in cross-chain messaging protocol LayerZero’s infrastructure, and the $280 million exploit of the Drift Protocol.

The average size of crypto hacks rose to $19.5 million in 2025. Source: TRM Labs

Another DPRK-linked attack involved the use of AI for social engineering. Crypto wallet Zerion revealed on April 15 that North Korean-affiliated hackers used AI in a long-term social engineering attack to steal about $100,000 from the company’s hot wallets.

Newson warned that, in “some aspects,” the acceleration of AI will only worsen crypto attacks.

Kraken calls for de minimis exemption on crypto taxes after 2025 reports

Cryptocurrency exchange Kraken called for a change in US tax policy after reporting millions of cases of transactions “worth less than $1” as part of its reporting requirements for 2025.

In a Wednesday blog post, Kraken said it issued more than 56 million tax forms — 1099-DAs — to the US Internal Revenue Service (IRS) in 2025 as now required by law. However, the exchange said that about 18.5 million of those forms were for transactions under $1, with about 28 million for $10 or less and 75% under $50.

In an effort to “eliminate millions of unnecessary forms,” the exchange called for a de minimis exemption for taxes to exclude “small, routine digital asset payments from capital gains reporting.” It similarly advocated for an end to “phantom” income derived from staking cryptocurrencies, requiring holders to “owe taxes on value they have not realized” by not selling their staking rewards.

“This is not about helping crypto companies,” said Kraken about its recommendations. “It is about 55 million Americans, spanning every state, age bracket and industry, who are navigating a tax system designed before digital assets existed. Congress should act to make taxpayers’ lives easier.”

Source: Kraken

UK cracks down on illegal P2P crypto trading in nationwide raids

The UK Financial Conduct Authority (FCA) has raided multiple sites suspected of running illegal peer-to-peer (P2P) crypto trading operations.

The financial services and markets watchdog said Wednesday that it worked alongside HM Revenue & Customs and the South West Regional Organised Crime Unit to inspect eight locations linked to illegal crypto trading. Officials issued cease-and-desist notices on site, ordering operators to halt activity immediately, while gathering evidence tied to ongoing criminal investigations.

“Unregistered peer-to-peer crypto traders operating in the UK are doing so illegally and pose a financial crime risk,” Steve Smart, the FCA’s executive director of enforcement and market oversight, said.

P2P crypto trading allows individuals to buy and sell digital assets directly, bypassing centralized exchanges. In the UK, such activity requires registration under anti-money laundering rules. The FCA said no peer-to-peer crypto traders or platforms are currently registered with the regulator.

The raids mark the FCA’s first operation of this kind focused on P2P crypto trading, but follow a series of enforcement steps against the sector. Previous actions include prosecutions tied to illegal crypto ATM networks and arrests linked to unlicensed exchanges.