Crypto hacks cost $110M in July as bug reports rise

Crypto projects lost roughly $110 million to hacks in July as Immunefi recorded more confirmed bug bounty reports and found that audit competitions uncovered more serious vulnerabilities than private audits. Summary Crypto hacks caused approximately $110 million in losses during July. Immunefi paid researchers $2.32 million for confirmed vulnerabilities during the month. Audit competitions found 6.2 serious bugs per engagement, compared with 1.5 in private audits. Immunefi projects 114 major hacks in 2026, potentially surpassing the previous annual record. Crypto hacks put 2026 on course for a record Immunefi recorded 164 crypto hacks through Aug. 3, including 67 incidents that each caused more than $1 million in losses, according to data published by the security platform. The company projects that the number of hacks exceeding $1 million could reach 114 by the end of 2026. That would surpass the previous annual record of 72 major incidents set in 2024. Only 49 such incidents had been recorded by the same point that year. July’s estimated $110 million total added to an already costly year for the industry. A recent Blockaid report found that crypto security losses reached $1.1 bil...