Why crypto hacks don’t end and continue even when the money is gone
Crypto hacks cause prolonged damage beyond initial theft, severely impacting a project's token value and long-term recovery efforts.Summary
Immunefi's "State of Onchain Security 2026" report reveals that the damage from crypto hacks extends far beyond the immediate theft, functioning as a long-tail corporate crisis. While the average direct theft was around $25 million, hacked tokens experienced a median six-month decline of 61%, with 84% failing to recover their hack-day price. The report notes that hacks are becoming more concentrated, with the top five hacks accounting for 62% of all stolen funds in 2024-2025, despite the median theft size decreasing. This concentration means a few major failures can distort the industry's annual loss profile. Crucially, the prolonged token price decline erodes a project's treasury, runway, and morale, forcing teams to spend months fighting for credibility instead of building. Furthermore, increased market interconnectedness means vulnerabilities can spread further, though centralized venues still account for over half of the total stolen value. Ultimately, a project's survival depends on enduring the six months following the initial theft, as this slower damage determines its future.
(Source：CryptoSlate)