Cryptocurrency platforms lost more than $3.63 billion to cyberattacks and stolen credentials between January 2025 and July 2026, with security audits failing to prevent many of the largest losses, according to a CoinGecko report.

The crypto market data provider said about 88% of the stolen funds came from platforms that had completed independent security audits. Roughly 60% of the affected platforms had also undergone such audits.

The findings raise questions about the effectiveness of relying on conventional security audits as a primary defense against attacks in an industry where control over private keys, administrative credentials and transaction-signing systems can determine whether billions of dollars remain secure.

CoinGecko said many of the attacks exploited areas that standard security checks do not typically cover.

An audit generally assesses a defined set of systems, controls or code at a particular point in time. It does not necessarily demonstrate that an exchange or decentralized protocol can withstand sophisticated social engineering, compromised credentials, insider threats, supply-chain attacks, or the theft of cryptographic keys used to authorize transactions.

The scale of the losses illustrates the consequences.

Bybit suffered the largest reported loss, with about $1.4 billion stolen in a February 2025 attack. Blockchain intelligence firm Elliptic attributed the theft to North Korea.

KelpDAO was the second-most affected platform, with losses of about $292 million, followed by Drift Protocol at $285 million, according to CoinGecko.

The concentration of losses among a relatively small number of major incidents also reveals the asymmetric nature of cryptocurrency security. A platform can maintain extensive security controls for years and still face a single successful compromise capable of producing losses far larger than the cost of routine security testing.

The problem is particularly acute in systems where large amounts of assets can be moved rapidly once an attacker gains access to the mechanisms that authorize transactions.

The CoinGecko findings therefore point to a broader shift in how crypto security may need to be evaluated. Code reviews and independent audits remain necessary, particularly for decentralized protocols, but they address only part of the threats.

Operational security equally matters. Protecting signing keys, restricting administrative privileges, separating transaction approval from transaction execution, monitoring unusual transfers, and maintaining robust incident-response procedures can determine whether a compromised account becomes a limited security event or a nine-figure loss.

The findings also expose a potential weakness in how security is communicated to investors and users. The presence of an independent audit can create an impression of comprehensive protection even when the audit covers only specific components or vulnerabilities.

For crypto platforms holding or controlling large pools of customer assets, that gap has financial and reputational consequences. A successful exploit can drain funds directly, trigger withdrawals, disrupt trading and undermine confidence in the platform’s broader security architecture.

The industry is also facing increasingly sophisticated attackers. State-linked groups, organized cybercriminals and highly specialized hackers have strong financial incentives to target cryptocurrency because transactions can move large sums across borders without the same intermediaries used in traditional finance.

The $3.63 billion in reported losses through July 2026 is seen as an indication that security spending is not necessarily translating into proportionate protection. The fact that audited platforms accounted for the majority of stolen funds does not mean audits caused the breaches, but it does show that passing an audit should not be treated as evidence that a platform is immune to major attacks.

The situation has sustained a question for crypto investors and institutions: do platforms have layered defenses that remain effective after an attacker bypasses its formal controls?

As the value locked in exchanges, decentralized finance protocols, and other digital-asset infrastructure continues to grow, security is becoming less a matter of passing a technical inspection and more a question of whether platforms can continuously protect the mechanisms that ultimately control billions of dollars.

Gold prices edged lower on Tuesday as a jump in oil prices revived concerns about inflation, while stronger-than-expected U.S. labor-market data continued to push investors toward a more cautious view of Federal Reserve policy.

A weaker dollar and heightened geopolitical tensions helped limit bullion’s decline ahead of key U.S. inflation reports later this week.

Spot gold was down 0.1% at $4,399.99 an ounce by 1024 GMT, after rising as high as $4,442.70 earlier in the session. U.S. gold futures for December delivery fell 0.7% to $4,444.50.

“Gold trades cautiously today, caught between Fed rate hike bets and dollar softness. Higher oil prices stoke inflation risks and expectations for Fed rate hikes, putting the precious metal under pressure,” said Nikos Tzabouras, a senior market analyst at Jefferies-owned Tradu.com.

The market is being pulled in opposite directions. A weaker dollar supports gold by making the metal less expensive for buyers using other currencies, while geopolitical uncertainty encourages demand for traditional safe-haven assets. But those supports are being offset by rising oil prices and shifting expectations for U.S. interest rates.

Oil prices climbed to multi-week highs after Yemen’s Tehran-backed Houthis attacked energy facilities and cities in U.S. ally Saudi Arabia, adding a fresh geopolitical premium to crude. Higher energy prices can feed directly into headline inflation and raise costs for transportation, manufacturing and other businesses, increasing the risk that price pressures remain elevated for longer.

That prospect could make the Federal Reserve more reluctant to cut rates or could even revive expectations for tighter policy. Gold does not pay interest, so its appeal typically weakens when bond yields and policy rates rise, increasing the opportunity cost of holding bullion.

The pressure on gold has intensified since Friday, when the metal fell as much as 2.4% in its sharpest one-day decline in recent weeks. The sell-off followed U.S. employment data showing that job growth accelerated sharply in August, while the unemployment rate held at 4.1%. The figures suggested that the economy may be strong enough to withstand higher borrowing costs and reduced expectations for near-term monetary easing.

Markets are now pricing in about a 60% chance of a Federal Reserve interest-rate hike at its next policy meeting, according to the CME FedWatch Tool, up from roughly 50% before the employment report. The repricing has also increased the sensitivity of gold to Treasury yields and incoming economic data.

Investors will receive the U.S. producer price index on Thursday and the consumer price index on Friday. The reports will be scrutinized for signs that higher energy costs are spreading into broader inflation measures. Core inflation readings, which exclude volatile food and energy prices, may be required because they could show whether price pressures are becoming entrenched rather than remaining limited to fuel markets.

A hotter-than-expected report could push Treasury yields higher, strengthen the dollar and further reduce expectations for monetary easing, creating additional headwinds for gold. Softer inflation data could have the opposite effect by reviving expectations for a more accommodative Fed and supporting bullion.

“The precious metal may struggle for firm direction from any inconclusive prints, given fluid market pricing and a Fed that lacks conviction,” Tzabouras said.

The dollar index weakened on Tuesday, providing some support to gold and helping cushion the impact of higher rate expectations. Geopolitical tensions may also continue to underpin demand for bullion, especially if the conflict involving energy infrastructure raises concerns about supply disruptions or broader regional escalation.

Still, the market’s focus has shifted from gold’s safe-haven appeal to the interaction between oil, inflation and monetary policy. Analysts note that if crude prices continue rising while U.S. economic data remains resilient, investors may demand higher yields to compensate for inflation risk, weighing on gold. Conversely, evidence that inflation is cooling despite higher energy costs could allow bullion to regain momentum.

The broader precious-metals complex was mixed. Spot silver slipped 0.1% to $66.08 an ounce, while platinum rose 0.6% to $1,836.72. Palladium fell 0.4% to $1,387.43.

Currently, gold remains caught between a weaker dollar and geopolitical demand on one side, and higher oil prices, firmer rate expectations and resilient U.S. growth on the other. This week’s inflation data is expected to determine which force dominates and whether bullion resumes its advance or faces renewed pressure from rising yields and a less accommodative Federal Reserve.