Crypto security losses are still stacking up—and the scale is hard to ignore.
CoinGecko’s 2026 State of Crypto Security Report says platforms have lost more than $3.1 billion to hacks and exploits since the start of 2025. The largest hit remains Bybit’s February 2025 breach, where attackers reportedly drained about $1.4 billion, mostly in Ethereum, from the exchange’s multisig wallets.
That single incident accounts for a huge share of the reported losses, but the broader message is bigger: custody architecture, wallet permissions and operational security remain core risks across the industry.
For users, “not your keys, not your coins” is only part of the equation. Exchange users should also pay attention to how platforms handle multisig controls, transparency after incidents, and safeguards around withdrawals.
The next question is whether major platforms will make security practices more visible before—not after—the next exploit.
Are exchanges doing enough to prove their custody systems are resilient?
#CryptoSecurity #Bybit #CryptoNews
CoinGecko’s 2026 State of Crypto Security Report says platforms have lost more than $3.1 billion to hacks and exploits since the start of 2025. The largest hit remains Bybit’s February 2025 breach, where attackers reportedly drained about $1.4 billion, mostly in Ethereum, from the exchange’s multisig wallets.
That single incident accounts for a huge share of the reported losses, but the broader message is bigger: custody architecture, wallet permissions and operational security remain core risks across the industry.
For users, “not your keys, not your coins” is only part of the equation. Exchange users should also pay attention to how platforms handle multisig controls, transparency after incidents, and safeguards around withdrawals.
The next question is whether major platforms will make security practices more visible before—not after—the next exploit.
Are exchanges doing enough to prove their custody systems are resilient?
#CryptoSecurity #Bybit #CryptoNews
