Report: Q2 2026 Becomes Worst Quarter Ever for Crypto Hacks

A new report by crypto market tracker CryptoRank says Q2 2026 is on track to become the worst quarter ever for DeFi hacks. Through this year, DeFi platforms have suffered 121 hacks, causing about $942 million in losses, with the second quarter alone accounting for 85 incidents and roughly $775 million stolen. CryptoRank attributes the surge to a broader market backdrop marked by weakening investor confidence, including a steady monthly decline in DeFi total value locked (TVL) from about $115 billion in January to $70 billion by late June. The report says Q2’s 85 exploits were 49 more than Q1 2026. Two back-to-back April attacks drove most losses: Drift Protocol and KelpDAO lost a combined $590 million, including about $285 million from Drift and roughly $290 million tied to KelpDAO’s LayerZero bridge infrastructure. It also notes lending protocol Aave’s TVL fell from $26.4 billion to $14.3 billion, with about $12 billion withdrawn.