Cryptocurrency platforms have suffered more than $3.63 billion in losses from cyberattacks and stolen passkeys between January 2025 and July 2026, despite many of the affected platforms undergoing independent security checks.
According to a report dated August 27 by crypto market data site CoinGecko, around 88% of the stolen funds came from platforms that had “completed independent security audits.” About 60% of the affected platforms had also completed such audits.
The findings suggest that security audits alone may not be enough to protect crypto platforms, as many attacks focused on areas that are typically outside the scope of these checks.
Bybit recorded the largest loss during the period, with $1.4 billion stolen in a February 2025 attack. Elliptic attributed the incident to North Korea.
KelpDao was the second-most affected platform, reporting losses of $292 million, followed by Drift Protocol with $285 million.
Bybit, KelpDao and Drift Protocol had not immediately responded to a request for comment.
The report highlights a growing challenge for the crypto industry, where platforms can undergo security audits yet remain exposed to vulnerabilities that may not be covered by conventional checks.
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