Crypto Hacks Despite Audits: $3.6 Billion Lost in Last 18 Months

Crypto platforms have lost over $3.6 billion to hacks in the last 18 months, despite conducting security audits.

A report by CoinGecko found that 88% of the stolen funds and about 60% of the affected platforms had completed independent security audits.

The audits failed to capture the full spectrum of risk, as most exploits targeted external infrastructure or unaudited code updates.

The $1.4 billion theft in February 2025 from Bybit was one of the most significant incidents, followed by KelpDao losing $292 million and Drift Protocol losing $285 million.