Cryptocurrency Platforms Suffer $3.63 Billion Losses Due to Cyberattacks

Cryptocurrency platforms globally experienced significant financial losses, totaling approximately $3.63 billion U.S. over an 18-month period due to cyberattacks. A report from CoinGecko indicates that between January 2025 and July 2026, various cyber incidents led to these substantial losses, with stolen passkeys being a common method used by hackers to infiltrate systems and steal funds.

The most notable incident occurred in February 2025, when cryptocurrency exchange Bybit suffered a staggering loss of $1.4 billion U.S. Other significant breaches included staking platform KelpDao, which lost $292 million U.S., and decentralized exchange Drift Protocol, which had $285 million U.S. stolen. CoinGecko's report highlights that 60% of the affected platforms had undergone independent security audits, yet many were still vulnerable to attacks targeting areas not typically covered by these audits.

The report also points out that a majority of the cyberattacks were attributed to hackers based in North Korea, underscoring the ongoing threat posed by cybercriminals in the cryptocurrency sector. As of September 8, 2026, Bitcoin is trading at $78,350 U.S., reflecting the volatile nature of the cryptocurrency market amidst these security challenges.

© 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: KLEA News