$3.63 Billion Security Crisis Hits Crypto Amid Rise in Hacks
The crypto industry is facing a massive $3.63 billion security crisis despite having audited protocols in place, according to a recent report by CoinGecko.
Between January 2025 and July 2026, there were 245 documented security incidents that resulted in significant losses for crypto platforms. The largest 10 attacks accounted for over 72.5% of all stolen funds, with a total loss of $2.65 billion.
The report highlights that DEXs and dApps faced greater exposure to smart-contract exploits, with around $546 million lost through such attacks. However, threats extended beyond core code, with more than $1.8 billion lost to infrastructure and supply-chain vulnerabilities, including weaknesses in third-party services, integrations, and updates.
Interestingly, despite the hike in crypto hacks, active insurance coverage fell to 20.2%, from $163.2 million to $130.2 million. This is a concerning trend, especially when cumulative payouts remained around $33 million.