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The cryptocurrency industry recorded a record number of successful hacks during the second quarter of 2026. A total of 83 security breaches resulted in approximately $755 million in stolen assets.
Despite the record number of incidents, total losses remained well below the industry's all-time high. By comparison, hackers stole $3.56 billion during the fourth quarter of 2020, according to researchers.
The largest attacks of the quarter targeted KelpDAO and Drift Protocol, resulting in losses of approximately $293 million and $280 million, respectively.
Researchers noted that the number of successful exploits continues to rise even as aggregate financial losses remain below previous peak periods.
Cross-chain bridges remain the primary target
Cross-chain bridge exploits accounted for the largest share of losses during the quarter, totaling approximately $351 million, or nearly half of all stolen funds.The biggest incident involved the LayerZero OFT Bridge exploit, which led to the compromise of KelpDAO. That single attack accounted for more than one-third of all losses recorded during the quarter.
Many of the remaining incidents were linked to compromised administrative access and price manipulation involving fake tokens. Another 5.7% of total losses resulted from private key theft.
New attacks highlight growing security risks
Among the other major incidents, analysts pointed to the $30 million hack of Humanity Protocol and the $10.7 million exploit targeting THORChain. They also highlighted a series of attacks involving Aztec Connect and the decentralized exchange Raydium.Researchers attribute the growing number of exploits in part to advances in artificial intelligence. According to Immunefi founder and CEO Mitchell Amador, modern AI models have significantly expanded attackers' capabilities while making it increasingly difficult to secure crypto projects.
As hacking techniques continue to evolve, Binance CEO Richard Teng noted that DeFi protocols alone lost $621 million to exploits during April 2026. He argued that the industry must continue investing in cybersecurity tools to reduce risks for both users and infrastructure.
Earlier, Binance Research reported that a wave of major hacks in April triggered roughly $13 billion in outflows from DeFi protocols.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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