Crypto Hacks Drain $110 Million in July as Bug Bounties Rise

Crypto security risks are increasingly concentrated outside smart-contract code, in the private keys, signers and governance systems that control access to digital assets. Security firm Immunefi says an audit can verify how a protocol’s code behaves without protecting the wider operational structure. Compromised credentials, excessive signer authority or weak governance can therefore allow attackers to move funds even when the underlying contracts contain no exploitable flaw.

As of July 30, 2026, cryptocurrency hacks had resulted in $972 million of stolen assets worldwide. Immunefi’s assessment found that most of the losses stemmed from failures involving private keys, authorized signers and governance controls rather than smart-contract vulnerabilities. The findings shift attention toward access management, key storage and approval procedures, underscoring that passing a code audit does not amount to a guarantee of system-wide security.

Crypto networks remain vulnerable because smart contracts and private-key authorization can allow attackers to move large sums rapidly when code or signing systems are compromised. The risks are particularly significant for Ethereum and Solana, which support extensive decentralized-finance ecosystems and handle substantial volumes of digital assets. Major breaches can inflict losses on users and protocols while undermining confidence in the security infrastructure supporting the broader cryptocurrency market.

Crypto-related hack losses exceeded $1 billion from January through June 2026 as the number of attacks reached a record high, according to a new report from blockchain security platform Blockaid. Ethereum recorded about $332 million in losses, while Solana suffered roughly $326 million, bringing their combined total to $658 million. Blockaid attributed much of the damage across the two networks to software vulnerabilities and breaches involving private-key signing structures.

The cryptocurrency industry has long faced the risk of breaches targeting exchanges, DeFi protocols and wallets, with security firm CertiK tracking losses from onchain attacks. While the decline in total losses may appear encouraging, it does not mean defenses have improved in tandem. Attack methods and the damage caused by individual incidents remain key measures of the ecosystem’s security.

Crypto hacks caused $1.32 billion in losses from January through June 2026, down about 46.8% from the same period in 2025, according to CertiK. The firm warned, however, that the decline could create a false impression of improved security. Attackers are becoming increasingly sophisticated and destructive, while North Korean hackers remain a major threat.

Blockchain security firm PeckShield tracks losses from cryptocurrency hacks and scams, providing a gauge of risks involving DeFi protocols, private-key management and transaction security. Losses in February 2026 fell to their lowest level since March 2025, suggesting a temporary decline in major exploits, though phishing scams remain a significant threat.

Crypto hack and scam losses totaled $26.5 million in February 2026, down 69.2% from January and their lowest level in nearly 11 months, according to PeckShield. Major incidents during the month included a price-manipulation attack on YieldBlox and losses at IoTeX stemming from a private-key leak.