Cryptocurrency Platforms Lose Over $3.6 Billion to Cyberattacks, CoinGecko Reports
- Over $3.63 billion was lost by cryptocurrency platforms from January 2025 to July 2026 due to cyberattacks.
- 88% of stolen funds were from platforms that had undergone independent security audits.
- Bybit, KelpDao, and Drift Protocol were the most impacted, with losses of $1.4 billion, $292 million, and $285 million, respectively.
Security audits failed to protect numerous cryptocurrency platforms from significant financial losses due to hacking incidents, according to a report released by CoinGecko on August 27. The report highlights that between January 2025 and July 2026, these platforms collectively experienced over $3.63 billion in losses attributed to various cyberattacks and the theft of access credentials.
CoinGecko’s report reveals that approximately 88% of the stolen funds originated from platforms that had completed independent security audits. It noted that many of the cyberattacks targeted vulnerabilities typically overlooked by these audits.
Among the platforms affected, Bybit suffered the largest loss, with a reported $1.4 billion stolen in a heist that occurred in February 2025, which has been linked to North Korean operatives by Elliptic. Following Bybit, KelpDao experienced a loss of $292 million, while Drift Protocol lost $285 million.
Requests for comments from Bybit, KelpDao, and Drift Protocol were not immediately answered following the report’s publication.
