Crypto Exploit Losses Drop 90% in May as Security Incidents Fall to $68M

Crypto related exploit losses dropped significantly in May 2026, falling to $68.3 million, according to blockchain security firm CertiK. This marks an almost 90% decline compared to April’s $650 million in losses, one of the highest monthly totals in recent years.

CertiK reported that May became the third month in 2026 to record total losses below $100 million, suggesting a temporary improvement in overall crypto security conditions following a volatile start to the year.

Phishing Attacks and Bridge Exploits Drive Most Losses

Of the total stolen funds in May, approximately $2.6 million was linked to phishing attacks. Around $9.4 million was later recovered or returned, showing partial mitigation efforts by affected protocols and security teams.

The largest single exploit in May targeted Verus Protocol’s cross chain bridge, resulting in $11.5 million in losses. THORChain followed with an exploit that drained about $10.1 million.

Cross chain bridges remained the most targeted infrastructure, accounting for $28.6 million in losses, or roughly 42% of the monthly total. Code vulnerabilities were responsible for about 66% of losses overall, highlighting persistent weaknesses in smart contract design and deployment.

DeFi and Bridge Protocols Remain Key Risk Areas

CertiK also noted 29 total security incidents in May, including multiple cases of compromised private keys. Decentralized finance protocols continued to be a primary target for attackers, while new risks emerged from malware assisted by artificial intelligence tools used to compromise developers and code repositories.