Crypto platforms lost billions to cyberattacks despite audits
Crypto platform security audits failed to stop $3.63B in cyber losses See why passkeys and blind spots still expose major exchanges to attacks
Crypto platforms lost more than $3.63 billion to cyberattacks and stolen passkeys between January 2025 and July 2026, according to a CoinGecko report published Aug. 27.
The report said many of the affected platforms had already completed independent security audits, suggesting that standard reviews did not prevent the losses. It added that most of the attacks targeted areas that typical audits do not usually examine.
Bybit was the largest known victim in the period, with a reported $1.4 billion loss from a February 2025 hack that Elliptic linked to North Korea. KelpDao and Drift Protocol were also among the most affected platforms, according to the report.