Crypto security losses top $1 billion in Q3 as Bitget hack drives surge
Crypto security losses reach $1.26 billion in the third quarter of 2026 as attacks on exchanges and protocols intensify. The total is driven in large part by the $387.5 million Bitget breach, which represents about 31% of the quarter's recorded losses.
Highlights
- Crypto security losses climbed 53.9% to $1.26 billion in Q3 from $819.4 million in Q2, with incident numbers rising 13% to 247, according to CertiK.
- The Bitget hack was the largest Q3 security incident, while Liquid Network, Tectonic, and Coldcard also saw major breaches totaling over $550 million in reported losses.
- September alone saw $769 million in losses across 99 incidents, with $273 million frozen or returned, leaving $495.3 million in net losses mainly driven by exploits.
Quarterly losses jump on major exchange and protocol breaches
As reported by Cointelegraph, citing CertiK, crypto security losses rise 53.9% from $819.4 million in the second quarter to $1.26 billion in Q3, while the number of incidents increases about 13% from 219 to 247.The Bitget hack is the largest recorded incident of the quarter under CertiK's methodology. Liquid Network's $319 million exploit on Sept. 6 ranks second, followed by Tectonic at $120 million and the $112.7 million Coldcard theft.
CertiK also records about $769 million in losses across 99 security incidents in September alone. Around $273 million is frozen or returned, leaving adjusted losses of $495.3 million, while exploits account for $734 million across 58 incidents, or nearly 96% of the month's losses.
Bitget breach highlights operational risks across crypto markets
Bitget detects unauthorized transfers from some of its hot wallets on Sept. 24 and suspends withdrawals as it responds to the attack. The company says attackers exploit a vulnerability in a third-party security product to obtain internal credentials and forge withdrawal commands.The scale of the Bitget breach underscores how concentrated losses from a single incident can reshape quarterly industry totals. It also points to continued operational and third-party security risks for crypto exchanges, even as some stolen or frozen funds reduce net losses after attacks.
Our earlier coverage of Weiss Ratings’ Weiss Crypto Portfolio looked at a subscription service that promotes model-driven coin selection and market-timing signals. The service claims that combining an altcoin ratings approach with buy/sell timing could materially outperform a Bitcoin-only, buy-and-hold strategy, positioning it as a structured way for investors to manage exposure across the crypto market.
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