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ETH 
SOL Half a year of turmoil: Cryptocurrency losses reach US$1.1 billion
According to an in-depth report released by security company Blockaid, in the first six months of 2026, the cryptocurrency project suffered a staggering blow, with losses of approximately US$1.1 billion due to 212 confirmed exploits. This unprecedented number of half-year incidents has more than tripled the number of vulnerabilities compared to the whole of 2025.
The most costly vulnerability incident
It is worth noting that the total amount stolen this year is lower than last year. This is mainly due to the huge case of theft of US$1.5 billion from the Bybit platform in February 2025, and there have been no large-scale vulnerabilities of similar scale this year. In 2026, the four worst incidents of KelpDAO, Drift Protocol, Resolv and CowSwap combined caused nearly US$707 million in losses, accounting for 64% of the stolen funds during this period.
What is the cause of the loss?
Operational security breaches were identified as the main contributor to these financial losses. Vulnerability incidents caused by breaches of private keys, signer infrastructure and back-end systems resulted in a total of approximately US$789 million in losses, although a large number of incidents originated from smart contract vulnerabilities.
"For institutions exploring tokenized assets and on-chain settlements, due diligence now focuses not only on contract audits, but also on key management and transaction authorization processes."
Survey results reveal a shift in threat dynamics, with attackers exploiting human and system vulnerabilities rather than just targeting code flaws.
Is North Korea involved?
Security experts linked about 55 percent of the losses to activities planned by North Korean-linked actors. Major vulnerabilities in KelpDAO and Drift Protocol have been traced to North Korean hacker groups, further confirming their destabilizing effect on blockchain projects.
Key insights in thereport include:
The use of LinkedIn's social engineering strategies has become a common entry point for vulnerabilities. The Ethereum and Solana projects suffered significant losses due to vulnerabilities and key breaches respectively. New attack strategies are emerging, including the abuse of artificial intelligence and wallet delegation capabilities.
With the emergence of new attack strategies and escalating threat levels from state-sponsored actors, the need for enhanced security measures has never been more urgent. Future precautions must include strengthening key management protocols and vigilant monitoring of transaction authorizations to respond to this rapidly evolving threat landscape.
