Crypto hacks cost platforms $3.63B despite audits, with Bybit hardest hit

Cryptocurrency platforms have faced mounting losses from cyberattacks totaling over $3.63 billion between January 2025 and July 2026, despite the fact that the majority had completed independent security audits, according to a report by CoinGecko. Around 88% of the stolen funds and about 60% of the affected platforms were audited, yet vulnerabilities in areas not typically covered by standard audits remained a persistent risk. The most significant incident involved Bybit, which suffered a $1.4 billion February 2025 heist attributed to North Korean actors by security firm Elliptic. KelpDao and Drift Protocol were also major targets, with losses of $292 million and $285 million respectively. Bybit, KelpDao, and Drift Protocol did not respond to requests for comment.