Crypto Hacks Hit Record High in August

August's crypto hacks reached a record high in 2026 with 50 major incidents, according to PeckShield. This represents a significant increase from July's 30 hacks and marks the highest monthly count for the year so far.

The total losses from these hacks came out to $136.3 million, down 49.5% from July's $270 million. The average loss per hack fell to around $2.7 million, a substantial decrease from July's $9 million.

The largest exploit of the month was Tectonic on Cronos (CRO), which resulted in losses of approximately $74 million. However, validators quickly froze the chain after the attacker moved about $6 million to Ethereum and began bridging funds to BTC.

Cronos then restored the chain state to a point before the attack and resumed block production. PeckShield noted that the frequency of attacks is rising even as individual hauls shrink, highlighting ongoing DeFi protocol security risks.