Crypto hacks: most losses come from people, not protocols
Digital Asset News • 10 days ago
What This Video Is About
The video discusses the limitations of crypto audits in preventing security breaches, highlighting the significant losses incurred by investors due to compromised suppliers and social engineering scams.
Major Ideas Discussed
- Recent data shows that almost $1.2 billion was lost due to security breaches in Q3 2026, with 77% of third-party losses attributed to compromised suppliers.
- A breakdown of losses in 2025 reveals that 40% were due to technical issues, while 60% were attributed to social engineering and human factor breaches.
- Social engineering scams involve deceptive tactics, including fake emails, phishing attempts, and fake job offers, highlighting the significant risk posed by human factor breaches in the crypto industry.
- The total losses due to security breaches in 2025 were approximately $3.4 billion, emphasizing the need for investors to be cautious and vigilant.
What to Watch Next
Investors should monitor the latest security reviews and fixes, as well as be aware of social engineering scams, to minimize the risk of losses in the crypto industry.