Crypto audits may breed false confidence as Q3 hacks cost $1.18 billion, Hacken finds

Security firm Hacken reports that crypto-related hacks in the third quarter caused losses totaling $1.18 billion. According to the findings, 77% of those losses stemmed from compromised third-party suppliers, delayed patches, or systems that had not been covered by the most recent security reviews. The report suggests that routine audits can leave investors with a misplaced sense of safety when those audits do not account for the full range of exposed components. The analysis highlights supply-chain weaknesses and slow remediation as major contributors to recent breaches.