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Crypto hacks increased sharply in August, with 50 major incidents causing an estimated $136.3 million in losses, according to blockchain security company PeckShield.
Incidents Up 67% But Losses Down 49.5%
PeckShield reported on Sept. 1 that it recorded 50 major incidents during August, a 67% increase from the 30 incidents counted in July. Estimated losses reached $136.3 million, down 49.5% from approximately $270 million in July. The figures show a growing number of attacks with losses concentrated in one large incident. Excluding Tectonic, the remaining 49 incidents generated estimated combined losses of about $62.3 million.
Tectonic Dominated Monthly Losses
The Tectonic lending incident on Cronos accounted for approximately $74 million, more than half of PeckShield's total. Security researchers estimated that an attacker manipulated collateral pricing and borrowed assets worth approximately $74 million. Cronos validators stopped block production after detecting the active exploit. The attacker moved approximately $6 million to Ethereum before the halt. Cronos later resumed block production after validators restored the network to a state preceding the exploit, with blocks restarting from block 90,896,189.
Top 10 August Incidents
PeckShield identified Moonwell as the second-largest incident at $8.7 million. Term Labs followed at $8.5 million, while Coinsbuy and TAC recorded estimated losses of $7.9 million and $7.5 million. Other named incidents included Injective at $4.8 million, MANTRA at $3.6 million, BounceBit at $3 million and Cosmos Labs at $2.87 million. Aquifer completed the top ten with an estimated $2.47 million loss. A recent CoinGecko study found that crypto platforms lost $3.63 billion across 245 incidents between January 2025 and July 2026, with the ten largest incidents accounting for more than 72.5% of that estimate.
Investigations and Recovery Efforts Continue
Cronos and Tectonic are expected to publish a full post-incident report explaining the exploit, validator response and network restoration. Tectonic has not announced a repayment or compensation plan for affected depositors. August also included network disruptions unrelated to Tectonic, including MANTRA resuming block production after deploying a software update addressing a Cosmos-EVM vulnerability. The project said two team-managed wallets were affected while user balances remained unchanged.
