Crypto Hacks Reach Record High in August Amid Falling Losses

Crypto attacks reached an all-time high in August 2026, with 50 major hacks reported by blockchain security firm PeckShield. This number surpassed every previous month of 2026, including April and May which tied at 40 incidents each.

Despite the record-breaking number of attacks, combined losses fell 49.5% to approximately $136.3 million in August. This is down from the $270 million lost in July, with an average loss of around $2.7 million per incident, compared to $9 million in July.

The largest hack occurred at Tectonic, the largest lending protocol on Cronos, which reportedly lost around $74 million. This accounts for more than half of all crypto losses recorded during August and ranks as the fourth-largest crypto theft of 2026 so far.