The cryptocurrency sector recorded 50 major hacks in August 2026, up 67% from 30 in July, while total losses fell 49.5% month over month to about $136.3 million from approximately $270 million. The monthly total was dominated by the TectonicFi incident, also identified as Tectonic.cro in PeckShieldAlert’s post, which caused roughly $74 million in losses. PeckShield ranked it as the fourth-largest cryptocurrency theft of 2026 to date after the Drift, KelpDAO/LayerZero and COLDCARD wallet exploits. Most of the affected funds remained inside the ecosystem, with only about $6 million reportedly bridged away before Cronos paused its chain. The exploiter then began laundering accessible assets, including moving funds toward Bitcoin. Other major incidents included losses at Termlabs, Coinsbuy, TAC, Moonwell, MANTRA, Injective, BounceBit, Cosmos Labs and Aquifer. The figures show that lower dollar losses did not correspond to improved crypto security, as the frequency of significant incidents rose sharply.