Bybit hit by $1.4 billion North Korean hack, industry faces $3.63 billion in losses
Between January 2025 and July 2026, crypto platforms lost over $3.63 billion to cyberattacks despite most having completed security audits.
CoinGecko reported that cryptocurrency platforms have suffered significant losses from cyberattacks and stolen passkeys between January 2025 and July 2026. The total amount stolen exceeded $3.63 billion. Approximately 88% of the funds and roughly 60% of the affected platforms had completed independent security audits, yet these measures failed to prevent most breaches. The report stated that attackers targeted areas standard security checks typically do not cover. Bybit suffered the largest losses, attributed to a $1.4 billion heist in February 2025 that Elliptic linked to North Korea. KelpDao lost $292 million and Drift Protocol lost $285 million during this period. The three major platforms did not immediately respond to requests for comment.
