The crypto industry has set a new historical anti-record for the number of hacks: 83 incidents in a quarter.
The second quarter of 2026 set an absolute record for the number of recorded crypto protocol hacks. Analysts identified 83 incidents — the highest figure in the entire history of observations. However, the total damage of $755.3 million was far from the maximum, indicating fundamental changes in the structure of attacks.
The key events of the quarter were the hack of the KelpDAO protocol for $293 million and the Drift Protocol exploit for $280 million. These two attacks together accounted for more than 75% of total losses. The cross-chain bridge segment was particularly telling: losses here reached $351 million, with 38% of this amount attributed to the incident involving the LayerZero OFT bridge, which is directly linked to the KelpDAO attack. Another 37% of losses in this sector were caused by compromised administrative access and token price manipulation. Private key theft, contrary to expectations, accounted for only 5.66% of total damage.
Despite the record number of hacks, total losses are significantly lower than peak values. The absolute record for the cost of hacks still belongs to the fourth quarter of 2020, when damage amounted to $3.56 billion. The current situation demonstrates a paradigm shift: instead of a few large "giga-exploits," we are seeing a constant stream of smaller but more numerous attacks.
This dynamic is directly linked to the reduction of liquidity in the ecosystem. The total value locked (TVL) has decreased from $164 billion to approximately $73 billion, making large targets less attractive. At the same time, the gap between the pace of protocol development and the maturity of their risk management systems is becoming critical. Many projects continue to use outdated security schemes, such as a "three-of-six" multi-signature where three keys are stored on a single laptop. This creates an illusion of protection but in reality makes the system vulnerable.
In May 2026, the THORChain team confirmed a hack of its cross-chain protocol for $10 million, after which it was forced to suspend all "sensitive" functions, including trading and liquidity pool operations. And on June 8, hackers compromised wallets associated with the Humanity Protocol project, stealing approximately $31 million.
Analytical commentary: The increase in the number of attacks amid a decrease in average damage is an alarming signal for the industry. It indicates that attackers are adapting to new conditions, focusing on less protected but more numerous targets. Until protocols implement modern risk management systems and abandon outdated security practices, the trend toward fragmentation of attacks will only intensify.