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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
10/19/2026

Crypto Audits Give False Security as Q3 Hacks Cost $1.18 Billion

What happened: Security firm Hacken reported that crypto hacks and exploits caused $1.

Crypto Audits Give False Security as Q3 Hacks Cost $1.18 Billion

What happened: Security firm Hacken reported that crypto hacks and exploits caused $1.18 billion in losses across 107 incidents in Q3 2026—a 55% increase from the previous quarter. Notably, 77% of these losses stemmed from compromised suppliers, delayed fixes, or systems outside the scope of recent security audits. Major incidents included Bitget ($352-387 million), Liquid Network ($319-320 million), and Coldcard firmware ($114-115 million).

Why it matters: The findings challenge the prevailing belief that code audits alone can secure crypto projects. Hacken’s co-founder, Andrii Matiukhin, stressed that limited audit scopes and cost-cutting leave critical components unchecked, exposing users to risk. Q3 2026 now ranks as the most damaging quarter since Q1 2025’s Bybit hack, raising questions about industry security standards and investor protection.

Source: CoinDesk