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FollowingThe security situation of cryptocurrencies is severe: The losses exceeded US$3.6 billion between 2025 and 2026
The security of cryptocurrencies has always been a major challenge facing investors. Attackers continue to use new methods to launch attacks on centralized and decentralized platforms. According to the "2026 Cryptocurrency Security Status Report" released by CoinGecko, between January 2025 and July 2026, cryptocurrency platforms recorded a total of 245 security incidents, with a total loss of US$3.63 billion.
This exclusive report further reveals the evolution of the cryptocurrency security landscape. The latest attacks have been linked to organized criminal groups and state-backed participants, such as the North Korean hacker group. Attackers have adopted more sophisticated methods, using mixers and cross-chain bridge technology, making it increasingly difficult to track funds.
Supply chain attacks and key leaks cause huge losses
Between 2025 and 2026, infrastructure and supply chain vulnerabilities have become one of the most damaging attack vectors. These incidents resulted in losses of more than $1.8 billion on centralized exchanges and decentralized platforms. Typical incidents include attacks on Bybit and KelpDAO.
The main vulnerabilities faced by different platforms vary. Attackers look for security holes and plan attacks based on them. Private key disclosure remains the main security risk faced by centralized exchanges. Decentralized applications are more vulnerable to sophisticated smart contract vulnerabilities.
During the same period, cryptocurrency platforms also suffered oracle attacks and market manipulation attacks. Even well-known platforms such as Bitget, Binance and Hyperliquid have not been spared. At the same time, decentralized exchanges and applications remain exposed to smart contract vulnerabilities that can be exacerbated by malicious integrations and fraudulent user interfaces.
Security audits failed to prevent most significant losses
CoinGecko's report questions the effectiveness of traditional security audits. About 60% of attacked platforms have undergone independent security audits before being attacked. Despite the completion of the audit, these platforms accounted for 88.44% of the total funds stolen during the incident.
The report states that most attacks occur outside the scope of traditional audits. Only about 11% of incidents involved smart contract vulnerabilities. Many other incidents involve external infrastructure, unaudited code changes, or systemic weaknesses exploited through governance attacks. Centralized platforms also face additional risks such as social engineering attacks and private key leaks.
Security risks are rising, and cryptocurrency insurance coverage is declining
Cryptocurrency insurance is also difficult to keep up with the increasingly severe threat environment. Active coverage for leading on-chain insurance agreements fell 20.2%, from $163.2 million to $130.2 million. At the same time, the cumulative compensation amount remained basically unchanged at US$33 million.
CoinGecko attributed the decline in insurance coverage to increased security risks. This fact makes both capital providers and users discouraged from purchasing insurance. In addition, restrictive policy terms also limit the scope of protection. Many policies exclude risks such as human error, private key leaks and market fluctuations, leading users to abandon the idea of insurance. As a result, five of the nine on-chain insurance agreements either ceased operating or shifted their business focus to other areas.
As security threats continue to evolve, centralized exchanges are increasingly introducing protection funds. These funds are designed to provide users with additional protection in the event of security incidents and are, to some extent, replacing cryptocurrency insurance. CoinGecko's extensive research highlights the limitations of relying on a single security measure.
