Crypto Sector Hit with Record Number of Hacks in August
In August 2026, the cryptocurrency sector experienced a significant surge in security incidents, with 50 major hacks reported by PeckShieldAlert. This represents a 67% increase from July's 30 hacks, despite a notable decrease in total losses to $136.3 million - down 49.5% from July's $270 million.
The largest incident occurred at TectonicFi, which lost approximately $74 million, more than half of all money stolen during the month.
PeckShield ranked the Tectonic.cro incident as the fourth biggest cryptocurrency theft of 2026 so far. However, the attacker encountered difficulties in transferring the majority of the pilfered assets, with only about $6 million reportedly bridged away before Cronos paused its chain.
The exploiter then started laundering accessible funds, including shifting assets towards Bitcoin, according to PeckShield. The other incidents were smaller but still demonstrate how widespread attacks have become.