In this illustrated photo taken on May 13, 2017, a man holds a laptop computer with a cyber code projected onto it.
Kacpar Pempel | Reuters
Cryptocurrency market data site CoinGecko said in a report dated August 27 that security audits alone are not enough to protect many crypto platforms from money-losing hacks.
According to the report, between January 2025 and July 2026, crypto platforms lost more than $3.63 billion due to various cyberattacks and passkey thefts.
Approximately 88% of stolen funds and 60% of affected platforms “have completed independent security audits,” the report said. The report noted that most attacks target areas that are normally unchecked.
The report cited the $1.4 billion heist in February 2025 that Elliptic attributed to North Korea, and said Bybit was the most affected company. KelpDao was the second most affected, with losses of $292 million, followed by Drift Protocol, with losses of $285 million, the report said.
Bybit, KelpDao, and Drift Protocol did not immediately respond to CNBC’s requests for comment.
